Omeros (NASDAQ:OMER) Shares Up 6.1% – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Omeros Price Performance

The company has a market cap of $701.31 million, a P/E ratio of 13.84 and a beta of 2.55. The stock’s 50-day moving average is $10.67 and its two-hundred day moving average is $11.75.

Omeros (NASDAQ:OMER) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $9.89 million during the quarter, compared to the consensus estimate of $4.19 million. On average, analysts predict that Omeros Corporation will post -0.94 EPS for the current year.

Insider Activity

In related news, Director Thomas J. Cable sold 7,500 shares of Omeros stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total value of $87,075.00. Following the completion of the sale, the director owned 35,067 shares of the company’s stock, valued at $407,127.87. The trade was a 17.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Omeros

A number of institutional investors and hedge funds have recently made changes to their positions in OMER. 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. Vanguard Group Inc. increased its position in Omeros by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after buying an additional 666,357 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in 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 acquiring an additional 384,168 shares in the last quarter. 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 boosted its holdings in Omeros by 39.3% in the 3rd quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after buying an additional 263,095 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.