Omeros (NASDAQ:OMER) Shares Up 11.3% – Here’s Why

Omeros Corporation (NASDAQ:OMER) shares shot up 11.3% on Monday . The stock traded as high as $9.58 and last traded at $9.6530. Approximately 2,005,229 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 1,633,257 shares. The stock had previously closed at $8.67.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OMER shares. D. Boral Capital reiterated a “buy” rating and set a $36.00 price target on shares of Omeros in a research note 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, June 7th. Zacks Research upgraded shares of Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Weiss Ratings lowered shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Finally, HC Wainwright dropped their target price on shares of Omeros from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Omeros presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Omeros Trading Up 1.3%

The stock has a market cap of $697.02 million, a PE ratio of 13.76 and a beta of 2.52. The business has a 50-day moving average price of $11.77 and a 200 day moving average price of $11.84.

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

Insider Activity at Omeros

In related news, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the completion of the transaction, the director directly owned 35,067 shares of the company’s stock, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Omeros

Several institutional investors have recently made changes to their positions in OMER. State of Wyoming purchased a new position in shares of Omeros in the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in Omeros in the 4th quarter worth about $33,000. Assetmark Inc. bought a new position in Omeros in the 1st quarter worth about $38,000. Arax Advisory Partners grew its holdings in Omeros by 56.4% during the 4th quarter. Arax Advisory Partners now owns 5,255 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 1,894 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Omeros by 16.0% during the first quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors 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.