Omeros (NASDAQ:OMER) Director Thomas Cable Sells 7,500 Shares of Stock

Omeros Corporation (NASDAQ:OMER) Director Thomas Cable sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the director owned 35,067 shares in the company, valued at $407,127.87. This represents a 17.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Omeros Trading Down 5.0%

Shares of OMER stock opened at $11.07 on Thursday. The company has a market capitalization of $801.25 million, a P/E ratio of 15.81 and a beta of 2.66. The business’s 50 day moving average is $12.30 and its two-hundred day moving average is $11.67. Omeros Corporation has a 12-month low of $2.95 and a 12-month high of $17.65.

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

Hedge Funds Weigh In On Omeros

A number of institutional investors have recently added to or reduced their stakes in OMER. Acadian Asset Management LLC purchased a new position in Omeros during the first quarter worth approximately $357,000. XTX Topco Ltd purchased a new position in Omeros during the second quarter worth approximately $191,000. Invesco Ltd. lifted its position in Omeros by 34.1% during the second quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company’s stock worth $350,000 after buying an additional 29,644 shares in the last quarter. Marshall Wace LLP lifted its position in Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock worth $2,224,000 after buying an additional 97,224 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Omeros during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 48.79% of the company’s stock.

Analysts Set New Price Targets

OMER has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Omeros from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Weiss Ratings raised Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 14th. Zacks Research raised Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Omeros in a report on Thursday, May 14th. Finally, D. Boral Capital reissued a “buy” rating and set a $36.00 target price on shares of Omeros in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $40.33.

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.