Thomas Cable Sells 7,500 Shares of Omeros (NASDAQ:OMER) Stock

Omeros Corporation (NASDAQ:OMER) Director Thomas Cable sold 7,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the sale, the director directly owned 35,067 shares of the company’s stock, valued at $407,127.87. This represents a 17.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Omeros Price Performance

Shares of Omeros stock opened at $11.15 on Friday. Omeros Corporation has a 1 year low of $2.95 and a 1 year high of $17.65. The company has a market capitalization of $807.04 million, a price-to-earnings ratio of 15.93 and a beta of 2.66. The business has a fifty day simple moving average of $12.30 and a two-hundred day simple moving average of $11.71.

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 analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $9.89 million for the quarter, compared to analyst estimates of $4.19 million. As a group, equities analysts anticipate that Omeros Corporation will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OMER. Acadian Asset Management LLC bought a new position in shares of Omeros in the first quarter worth $357,000. XTX Topco Ltd bought a new position in shares of Omeros in the second quarter worth $191,000. Invesco Ltd. increased its position in shares of Omeros by 34.1% in the second quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company’s stock worth $350,000 after purchasing an additional 29,644 shares during the period. Marshall Wace LLP increased its position in shares of Omeros by 15.1% in the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock worth $2,224,000 after purchasing an additional 97,224 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Omeros in the second quarter worth $40,000. Institutional investors own 48.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Omeros from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. D. Boral Capital reissued a “buy” rating and set a $36.00 target price on shares of Omeros in a report on Tuesday, April 21st. Weiss Ratings raised Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 14th. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Omeros in a report on Thursday, May 14th. Finally, Zacks Research raised Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $40.33.

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.