Omeros (NASDAQ:OMER) Trading Up 6.1% – Time to Buy?

Shares of Omeros Corporation (NASDAQ:OMER) were up 6.1% during mid-day trading on Friday . The stock traded as high as $9.73 and last traded at $9.78. 313,500 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,611,529 shares. The stock had previously closed at $9.22.

Analyst Ratings Changes

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

Omeros Stock Performance

The firm has a market capitalization of $709.69 million, a P/E ratio of 14.03 and a beta of 2.55. The stock has a 50 day moving average of $10.76 and a 200-day moving average of $11.76.

Omeros (NASDAQ:OMER) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. The business had revenue of $9.89 million during the quarter, compared to analysts’ expectations of $4.19 million. As a group, sell-side analysts expect that Omeros Corporation will post -0.94 EPS for the current year.

Insider Buying and Selling at Omeros

In related news, Director Thomas J. Cable sold 7,500 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total transaction of $87,075.00. Following the sale, the director directly owned 35,067 shares in the company, valued at approximately $407,127.87. The trade was a 17.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in Omeros by 16.0% during the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 800 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Omeros by 16.5% in the fourth quarter. Farther Finance Advisors LLC now owns 7,106 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 1,004 shares in the last quarter. State of Wyoming bought a new position in shares of Omeros in the fourth quarter valued at approximately $25,000. AQR Capital Management LLC boosted its position in shares of Omeros by 7.2% in the fourth quarter. AQR Capital Management LLC now owns 22,838 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 1,532 shares during the period. Finally, ProShare Advisors LLC grew its stake in Omeros by 12.1% during the fourth quarter. ProShare Advisors LLC now owns 15,171 shares of the biopharmaceutical company’s stock valued at $261,000 after acquiring an additional 1,637 shares in the last quarter. Institutional investors own 48.79% of the company’s stock.

Omeros Company Profile

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.