Omeros (NASDAQ:OMER) CAO Sells 10,000 Shares of Company Stock

Key Points

• Omeros CAO David Borges sold 10,000 shares at an average price of $20.95, generating $209,500 and reducing his holdings by 66.67% to 5,000 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Omeros shares fell 2.9% to $20.13, near their 12-month high of $21.24. The company recently reported quarterly EPS of $0.02, beating estimates, with revenue of $28.53 million.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $34.00; institutional investors own 48.79% of shares.

Omeros Corporation (NASDAQ:OMER - Get Free Report) CAO David Borges sold 10,000 shares of Omeros stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $20.95, for a total value of $209,500.00. Following the transaction, the chief accounting officer owned 5,000 shares of the company's stock, valued at $104,750. The trade was a 66.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Omeros Stock Down 2.9%

Shares of NASDAQ OMER traded down $0.61 during trading on Thursday, reaching $20.13. The company had a trading volume of 873,738 shares, compared to its average volume of 1,553,685. Omeros Corporation has a 12-month low of $4.05 and a 12-month high of $21.24. The stock has a market cap of $1.46 billion, a PE ratio of 15.73 and a beta of 2.60. The business's 50-day moving average is $16.00 and its 200 day moving average is $12.99.

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

Analyst Upgrades and Downgrades

OMER has been the topic of several analyst reports. Zacks Research downgraded shares of Omeros from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Omeros from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings cut Omeros from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday. Cantor Fitzgerald upgraded Omeros from a "neutral" rating to an "overweight" rating and set a $22.00 target price on the stock in a research note on Tuesday. Finally, HC Wainwright reissued a "buy" rating on shares of Omeros in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OMER. BlackRock Inc. purchased a new stake in Omeros in the 2nd quarter worth approximately $57,484,000. State Street Corp increased its stake in shares of Omeros by 20.9% in the second quarter. State Street Corp now owns 2,319,906 shares of the biopharmaceutical company's stock worth $22,062,000 after purchasing an additional 400,331 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Omeros by 13.0% during the 4th quarter. Corient Private Wealth LLC now owns 688,025 shares of the biopharmaceutical company's stock valued at $11,817,000 after buying an additional 79,263 shares in the last quarter. Corient Private Wealth LP bought a new position in Omeros in the 2nd quarter worth $6,274,000. Finally, Bank of America Corp DE increased its stake in Omeros by 57.8% in the 1st quarter. Bank of America Corp DE now owns 204,805 shares of the biopharmaceutical company's stock worth $2,163,000 after buying an additional 74,997 shares in the last quarter. 48.79% of the stock is owned by hedge funds and other institutional investors.

Omeros Company Profile

Omeros Corporation is a biopharmaceutical company focused on discovering, developing and commercializing therapies for diseases involving the complement system, immune system and inflammation. The company is headquartered in Seattle, Washington, and was founded in 1994 by Gregory A. Demopulos, M.D., who serves as its chairman and chief executive officer.

Omeros' marketed product, OMIDRIA, is an ophthalmic solution containing phenylephrine and ketorolac. It is used during cataract surgery and other lens replacement procedures to help maintain pupil size and reduce postoperative pain and inflammation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.