Omeros (NASDAQ:OMER) Sets New 52-Week High - Still a Buy?

Key Points

• Omeros shares reached a new 52-week high, trading around $18.29 after rising 7.2%, while the company’s market capitalization reached approximately $1.33 billion.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a consensus price target of $38.00; however, some firms recently downgraded the stock to “Hold.”
• Omeros exceeded quarterly expectations, reporting $0.02 in earnings per share versus an expected $0.27 loss and revenue of $28.53 million compared with a $12.69 million estimate. Institutional ownership also remains substantial at 48.79%.

Omeros Corporation (NASDAQ:OMER - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.23 and last traded at $18.2850, with a volume of 1217358 shares changing hands. The stock had previously closed at $17.19.

Analyst Ratings Changes

Several research firms have recently issued reports on OMER. Wall Street Zen upgraded shares of Omeros from a "hold" rating to a "buy" rating in a report on Saturday. HC Wainwright reaffirmed a "buy" rating on shares of Omeros in a research note on Monday, July 27th. D. Boral Capital reissued a "buy" rating and issued a $36.00 price objective on shares of Omeros in a research note 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. Finally, Zacks Research cut shares of Omeros from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Omeros presently has an average rating of "Moderate Buy" and an average target price of $38.00.

Omeros Trading Up 7.2%

The business has a 50-day moving average price of $11.18 and a 200 day moving average price of $11.61. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 14.46 and a beta of 2.54.

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

Insiders Place Their Bets

In other Omeros news, Director Thomas J. Cable sold 7,500 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the completion of the sale, the director directly owned 35,067 shares of the company's stock, valued at approximately $407,127.87. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO David J. Borges sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $16.95, for a total transaction of $84,750.00. Following the completion of the transaction, the chief accounting officer owned 5,000 shares of the company's stock, valued at approximately $84,750. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.50% of the company's stock.

Institutional Investors Weigh In On Omeros

Several hedge funds have recently made changes to their positions in OMER. BlackRock Inc. purchased a new position in Omeros during the 2nd quarter worth approximately $57,484,000. Vanguard Group Inc. boosted its position in shares of Omeros by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company's stock worth $68,929,000 after buying an additional 666,357 shares during the period. UBS Group AG grew its holdings in shares of Omeros by 213.5% during the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company's stock valued at $38,180,000 after buying an additional 1,513,893 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Omeros by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company's stock valued at $28,026,000 after buying an additional 95,979 shares in the last quarter. Finally, State Street Corp raised its position in Omeros by 26.9% during the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company's stock valued at $27,025,000 after buying an additional 333,798 shares during the period. Hedge funds and other institutional investors 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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