Omeros (NASDAQ:OMER) Shares Down 5.8% Following Insider Selling

Omeros Corporation (NASDAQ:OMER) shares traded down 5.8% on Thursday after an insider sold shares in the company. The company traded as low as $12.42 and last traded at $12.3160. 244,474 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 3,314,114 shares. The stock had previously closed at $13.08.

Specifically, CAO David J. Borges sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $12.31, for a total transaction of $369,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

A number of analysts recently commented on the company. HC Wainwright lifted their price objective on Omeros from $20.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a research report on Wednesday, October 15th. Wall Street Zen downgraded shares of Omeros from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. WBB Securities reaffirmed a “strong-buy” rating and issued a $45.00 price objective on shares of Omeros in a research note on Wednesday, October 15th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $36.00 target price on shares of Omeros in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Omeros Trading Down 6.2%

The firm has a market cap of $870.30 million, a P/E ratio of -6.09 and a beta of 2.38. The firm’s 50 day moving average is $10.93 and its two-hundred day moving average is $6.86.

Omeros (NASDAQ:OMER) last posted its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.39. Analysts predict that Omeros Corporation will post -3.09 EPS for the current fiscal year.

Institutional Trading of Omeros

Hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Omeros by 9.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,728 shares of the biopharmaceutical company’s stock worth $545,000 after acquiring an additional 2,631 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Omeros by 46.1% in the second quarter. Harbour Investments Inc. now owns 13,469 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 4,251 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Omeros by 113.1% during the third quarter. Russell Investments Group Ltd. now owns 10,695 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 5,677 shares during the period. Rhumbline Advisers lifted its holdings in shares of Omeros by 7.1% during the 3rd quarter. Rhumbline Advisers now owns 105,873 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 7,048 shares in the last quarter. Finally, Cypress Capital Group lifted its holdings in shares of Omeros by 20.7% during the 2nd quarter. Cypress Capital Group now owns 42,000 shares of the biopharmaceutical company’s stock valued at $126,000 after purchasing an additional 7,200 shares in the last quarter. Institutional investors and hedge funds 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.