Omeros (NASDAQ:OMER) Director Thomas Cable Sells 15,000 Shares

Key Points

• Director Thomas Cable sold 15,000 Omeros shares at an average price of $18.45, generating $276,750 and reducing his ownership by nearly 30% to 35,067 shares.
• Omeros shares recently traded at $19.27, near their 52-week high of $19.58, after rising sharply from a 52-week low of $3.94.
• The company beat quarterly expectations, reporting $0.02 in EPS versus estimates of a $0.27 loss and revenue of $28.53 million versus $12.69 million expected. Analysts maintain a “Moderate Buy” consensus with an average price target of $38.00.

Omeros Corporation (NASDAQ:OMER - Get Free Report) Director Thomas Cable sold 15,000 shares of Omeros stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.45, for a total value of $276,750.00. Following the completion of the transaction, the director owned 35,067 shares in the company, valued at $646,986.15. The trade was a 29.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Omeros Price Performance

Shares of NASDAQ OMER traded up $0.64 during trading hours on Friday, hitting $19.27. 2,582,326 shares of the company's stock were exchanged, compared to its average volume of 1,721,300. The company's 50-day moving average price is $11.52 and its 200-day moving average price is $11.71. Omeros Corporation has a 1-year low of $3.94 and a 1-year high of $19.58. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.05 and a beta of 2.54.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OMER shares. Zacks Research lowered shares of Omeros from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Omeros from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Omeros from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Finally, HC Wainwright restated a "buy" rating on shares of Omeros in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.00.

Institutional Investors Weigh In On Omeros

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in Omeros in the first quarter valued at about $357,000. XTX Topco Ltd bought a new stake in shares of Omeros in the 2nd quarter valued at approximately $191,000. Invesco Ltd. grew its stake in shares of Omeros by 34.1% in the 2nd quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company's stock valued at $350,000 after purchasing an additional 29,644 shares during the period. Marshall Wace LLP raised its holdings in shares of Omeros by 15.1% in the 2nd 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. acquired a new position in shares of Omeros in the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds 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.

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