Omeros (NASDAQ:OMER) Reaches New 52-Week High – Still a Buy?

Omeros Corporation (NASDAQ:OMER) shares hit a new 52-week high on Tuesday . The company traded as high as $20.43 and last traded at $20.4180, with a volume of 498257 shares. The stock had previously closed at $18.49.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OMER. Wall Street Zen upgraded shares of Omeros from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Cantor Fitzgerald upgraded Omeros from a “neutral” rating to an “overweight” rating and set a $22.00 price objective on the stock in a report on Tuesday. Zacks Research cut Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. HC Wainwright reaffirmed a “buy” rating on shares of Omeros in a research note on Monday, July 27th. Finally, Weiss Ratings raised Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Omeros has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Omeros Stock Performance

The business has a 50-day simple moving average of $15.36 and a 200 day simple moving average of $12.80. The firm has a market cap of $1.44 billion, a P/E ratio of 15.62 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 (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.29. The business had revenue of $28.53 million for the quarter, compared to analysts’ expectations of $12.69 million. On average, research analysts expect that Omeros Corporation will post -0.37 EPS for the current year.

Insider Activity at Omeros

In other Omeros news, Director Thomas J. Cable sold 15,000 shares of Omeros stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $18.45, for a total transaction of $276,750.00. Following the sale, the director directly owned 35,067 shares of the company’s stock, valued at approximately $646,986.15. The trade was a 29.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Peter B. Cancelmo sold 25,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $18.54, for a total value of $463,500.00. Following the completion of the transaction, the vice president directly owned 200 shares of the company’s stock, valued at $3,708. This represents a 99.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 95,906 shares of company stock worth $1,780,205 over the last ninety days. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Omeros

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Omeros by 16.0% in the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 800 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Omeros by 12.1% in the fourth quarter. ProShare Advisors LLC now owns 15,171 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 1,637 shares during the last quarter. Assetmark Inc. bought a new position in shares of Omeros during the first quarter valued at $38,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Omeros by 4.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 92,403 shares of the biopharmaceutical company’s stock valued at $879,000 after buying an additional 3,835 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Omeros by 4.3% during the second quarter. HighTower Advisors LLC now owns 115,368 shares of the biopharmaceutical company’s stock valued at $1,097,000 after buying an additional 4,738 shares during the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

About Omeros

Omeros Corporation is a biopharmaceutical company focused on discovering, developing and commercializing therapies for diseases involving the complement system, immune system and inflammation. The company is headquartered in Seattle, Washington, and was founded in 1994 by Gregory A. Demopulos, M.D., who serves as its chairman and chief executive officer.

Omeros’ marketed product, OMIDRIA, is an ophthalmic solution containing phenylephrine and ketorolac. It is used during cataract surgery and other lens replacement procedures to help maintain pupil size and reduce postoperative pain and inflammation.