Omeros (NASDAQ:OMER) Releases Earnings Results, Beats Estimates By $0.29 EPS

Key Points

• Omeros reported EPS of $0.02, beating the consensus estimate of a $0.27 loss by $0.29.
• YARTEMLEA generated $28.5 million in net sales in its first full quarter, up 188% sequentially, while adoption expanded to 73 transplant-center accounts. The product also received a permanent CMS J-code and potential NTAP reimbursement of up to $287,000 per inpatient treatment course.
• Omeros strengthened its balance sheet by reducing 2029 convertible-note principal by 43% and posted $4.1 million in positive operating cash flow, but faces uncertainty after the EMA issued a negative opinion on YARTEMLEA’s application and as commercial and development spending rises.

Omeros (NASDAQ:OMER - Get Free Report) posted its earnings results on Wednesday. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.29, FiscalAI reports.

Here are the key takeaways from Omeros' conference call:

• YARTEMLEA generated $32.2 million in gross sales and $28.5 million in net sales in its first full quarter, with net sales up 188% sequentially. Adoption expanded to 73 transplant-center accounts, and adult patients represented approximately 75% of sales.
• Reimbursement support strengthened as YARTEMLEA received a permanent CMS J-code and an approved NTAP of up to $287,000 per inpatient treatment course, effective October 1. The company also generated $4.1 million in positive operating cash flow and expects to remain on track for company-wide cash-flow positivity by mid-2027.
• Omeros reduced its 2029 convertible-note principal by 43% to $40.3 million, lowering future interest expense and potential dilution by approximately 5.8 million shares year to date.
• The European Medicines Agency’s CHMP issued a negative opinion on YARTEMLEA’s TA-TMA application; Omeros has requested re-examination. The company is not providing revenue guidance and expects higher third-quarter operating expenses from continued commercial investment and increased OMS805 development spending.

Omeros Stock Performance

OMER traded up $0.11 on Wednesday, hitting $13.71. The company had a trading volume of 3,396,409 shares, compared to its average volume of 1,613,719. The stock has a fifty day moving average price of $10.60 and a 200-day moving average price of $11.47. Omeros has a 12-month low of $3.94 and a 12-month high of $17.65. The stock has a market capitalization of $992.26 million, a price-to-earnings ratio of 19.59 and a beta of 2.54.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. D. Boral Capital reaffirmed a "buy" rating and issued a $36.00 target price on shares of Omeros in a report on Tuesday, April 21st. Weiss Ratings raised Omeros from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 5th. Zacks Research cut shares of Omeros from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. HC Wainwright restated a "buy" rating on shares of Omeros in a research report on Monday, July 27th. Finally, Wall Street Zen lowered shares of Omeros from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Omeros has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Insider Activity at Omeros

In other news, Director Thomas J. Cable sold 7,500 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the sale, the director directly owned 35,067 shares in the company, 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

Institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its holdings in Omeros by 26.8% in the fourth quarter. Invesco Ltd. now owns 154,782 shares of the biopharmaceutical company's stock worth $2,658,000 after purchasing an additional 32,707 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Omeros by 12.9% during the 4th quarter. Corient Private Wealth LLC now owns 687,325 shares of the biopharmaceutical company's stock valued at $11,805,000 after purchasing an additional 78,563 shares during the last quarter. Virtus Investment Advisers LLC purchased a new stake in shares of Omeros during the 4th quarter valued at $450,000. Wellington Management Group LLP boosted its position in shares of Omeros by 4.2% in the 4th quarter. Wellington Management Group LLP now owns 202,617 shares of the biopharmaceutical company's stock worth $3,480,000 after purchasing an additional 8,170 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Omeros by 10.0% during the 4th quarter. Millennium Management LLC now owns 441,811 shares of the biopharmaceutical company's stock worth $7,588,000 after buying an additional 39,997 shares during the last quarter. 48.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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