Legal & General Group Plc Invests $425,000 in Omeros Corporation $OMER

Legal & General Group Plc acquired a new stake in shares of Omeros Corporation (NASDAQ:OMER) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 44,686 shares of the biopharmaceutical company’s stock, valued at approximately $425,000.

A number of other hedge funds also recently made changes to their positions in OMER. BlackRock Inc. purchased a new stake in Omeros in the 2nd quarter worth approximately $57,484,000. Vanguard Group Inc. lifted its holdings in Omeros by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock valued at $68,929,000 after purchasing an additional 666,357 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Omeros by 1,201.1% in the third 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 during the period. State Street Corp boosted its position in shares of Omeros by 26.9% in the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock worth $27,025,000 after purchasing an additional 333,798 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after purchasing an additional 263,095 shares in the last quarter. 48.79% of the stock is currently owned by institutional investors.

Omeros Stock Performance

OMER stock opened at $19.12 on Wednesday. Omeros Corporation has a one year low of $3.94 and a one year high of $19.65. The company’s fifty day moving average price is $13.89 and its 200-day moving average price is $12.39. The company has a market capitalization of $1.38 billion, a PE ratio of 14.94 and a beta of 2.60.

Omeros (NASDAQ:OMER) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.29. The company had revenue of $28.53 million for the quarter, compared to analysts’ expectations of $12.69 million. On average, research analysts predict that Omeros Corporation will post -0.37 EPS for the current fiscal year.

Insider Activity at Omeros

In related news, VP Peter B. Cancelmo sold 25,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $18.54, for a total value of $463,500.00. Following the sale, the vice president directly owned 200 shares in the company, valued at approximately $3,708. The trade was a 99.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arnold C. Hanish sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at $94,750. This represents a 66.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,906 shares of company stock worth $1,780,205 over the last 90 days. Company insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Omeros from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. HC Wainwright reiterated a “buy” rating on shares of Omeros in a research note on Monday, July 27th. Weiss Ratings raised Omeros from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen upgraded Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Omeros has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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.