Omeros (NASDAQ:OMER) Stock Price Down 6.9% – Time to Sell?

Omeros Corporation (NASDAQ:OMER) shares dropped 6.9% during trading on Thursday . The stock traded as low as $9.52 and last traded at $9.6550. Approximately 129,164 shares traded hands during trading, a decline of 92% from the average daily volume of 1,605,151 shares. The stock had previously closed at $10.37.

Analyst Upgrades and Downgrades

OMER has been the subject of a number of research analyst reports. D. Boral Capital reissued a “buy” rating and issued a $36.00 target price on shares of Omeros in a report on Tuesday, April 21st. Zacks Research cut Omeros from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Wall Street Zen cut Omeros from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Weiss Ratings downgraded Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, HC Wainwright decreased their target price on Omeros from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Omeros Stock Performance

The firm has a market cap of $701.36 million, a P/E ratio of 13.84 and a beta of 2.55. The business’s 50-day simple moving average is $10.67 and its 200 day simple moving average is $11.75.

Omeros (NASDAQ:OMER) last released its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $9.89 million for the quarter, compared to the consensus estimate of $4.19 million. As a group, equities research analysts expect that Omeros Corporation will post -0.94 EPS for the current year.

Insider Buying and Selling

In other Omeros news, Director Thomas J. Cable sold 7,500 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $11.61, for a total value of $87,075.00. Following the transaction, the director owned 35,067 shares of the company’s stock, valued at approximately $407,127.87. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Omeros

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG boosted its stake in shares of Omeros by 213.5% during the 4th quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock worth $38,180,000 after acquiring an additional 1,513,893 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Omeros by 1,201.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock worth $1,706,000 after purchasing an additional 384,168 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Omeros by 13.0% in the 4th quarter. Corient Private Wealth LLC now owns 688,025 shares of the biopharmaceutical company’s stock worth $11,817,000 after purchasing an additional 79,263 shares in the last quarter. AlphaQuest LLC raised its holdings in Omeros by 8,259,600.0% in the 4th quarter. AlphaQuest LLC now owns 82,597 shares of the biopharmaceutical company’s stock worth $1,419,000 after purchasing an additional 82,596 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Omeros by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after purchasing an additional 666,357 shares during the period. Hedge funds and other institutional investors own 48.79% of the company’s stock.

About Omeros

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.