Omeros (NASDAQ:OMER) Shares Down 7.6% – Here’s Why

Omeros Corporation (NASDAQ:OMER) fell 7.6% during mid-day trading on Thursday . The stock traded as low as $12.94 and last traded at $13.2850. 1,525,300 shares were traded during trading, an increase of 9% from the average session volume of 1,405,458 shares. The stock had previously closed at $14.38.

Analyst Ratings Changes

Several brokerages have recently weighed in on OMER. Weiss Ratings reissued a “sell (d-)” rating on shares of Omeros in a research report on Tuesday, April 21st. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. D. Boral Capital reissued a “buy” rating and issued a $36.00 price objective on shares of Omeros in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Omeros in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Omeros has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Omeros Stock Down 8.8%

The company’s 50 day moving average is $12.22 and its 200 day moving average is $11.35. The firm has a market capitalization of $946.51 million, a price-to-earnings ratio of -25.94 and a beta of 2.66.

Omeros (NASDAQ:OMER) last released its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $9.89 million during the quarter, compared to analyst estimates of $10.05 million. On average, analysts expect that Omeros Corporation will post -1.54 EPS for the current year.

Hedge Funds Weigh In On Omeros

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Omeros by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock valued at $68,929,000 after acquiring an additional 666,357 shares in the last quarter. UBS Group AG grew its stake in shares of Omeros by 213.5% in the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock valued at $38,180,000 after acquiring an additional 1,513,893 shares in the last quarter. Geode Capital Management LLC grew its stake in Omeros by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock worth $28,026,000 after buying an additional 95,979 shares in the last quarter. State Street Corp grew its stake in Omeros by 26.9% during the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock worth $27,025,000 after buying an additional 333,798 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Omeros by 39.3% during the third 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 in the last quarter. 48.79% of the stock is currently owned by institutional investors and hedge funds.

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.