BlackRock Inc. Invests $57.48 Million in Omeros Corporation $OMER

Key Points

• BlackRock purchased 6.04 million Omeros shares worth approximately $57.5 million, giving it an 8.35% stake. Institutional investors collectively own 48.79% of the company.
• Omeros reported quarterly EPS of $0.02, surpassing the expected loss of $0.27, while revenue of $28.53 million exceeded estimates of $12.69 million.
• OMER opened at $18.79 and is near its 52-week high of $19.65. Analysts maintain a “Moderate Buy” consensus with an average price target of $38, although company insiders sold 45,906 shares worth about $850,455 during the quarter.

BlackRock Inc. purchased a new stake in Omeros Corporation (NASDAQ:OMER - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,044,633 shares of the biopharmaceutical company's stock, valued at approximately $57,484,000. BlackRock Inc. owned approximately 8.35% of Omeros at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of Omeros in the 1st quarter worth $357,000. XTX Topco Ltd acquired a new position in shares of Omeros during the 2nd quarter valued at about $191,000. Invesco Ltd. boosted its position in shares of Omeros by 34.1% during the 2nd quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company's stock valued at $350,000 after acquiring an additional 29,644 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Omeros by 15.1% in the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company's stock valued at $2,224,000 after purchasing an additional 97,224 shares during the period. Finally, Sei Investments Co. acquired a new stake in Omeros during the second quarter worth about $40,000. Institutional investors and hedge funds own 48.79% of the company's stock.

Insider Activity

In related news, CAO David J. Borges sold 10,000 shares of Omeros stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the transaction, the chief accounting officer owned 5,906 shares in the company, valued at approximately $111,918.70. The trade was a 62.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arnold C. Hanish sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $18.95, for a total transaction of $189,500.00. Following the sale, the director directly owned 5,000 shares in the company, valued at approximately $94,750. The trade was a 66.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 45,906 shares of company stock valued at $850,455. 10.50% of the stock is currently owned by company insiders.

Omeros Stock Up 1.0%

NASDAQ:OMER opened at $18.79 on Tuesday. Omeros Corporation has a 52 week low of $3.94 and a 52 week high of $19.65. The stock's fifty day moving average is $12.81 and its two-hundred day moving average is $12.08. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 14.68 and a beta of 2.54.

Omeros (NASDAQ:OMER - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.29. The firm had revenue of $28.53 million during the quarter, compared to analysts' expectations of $12.69 million. On average, sell-side analysts expect that Omeros Corporation will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OMER. HC Wainwright reiterated a "buy" rating on shares of Omeros in a report on Monday, July 27th. Weiss Ratings upgraded Omeros from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Zacks Research cut Omeros from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded Omeros from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.00.

Omeros 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.

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