Omeros (NASDAQ:OMER) Shares Gap Up - Here's What Happened

Key Points

• Omeros shares jumped 9.3%, opening at $11.25 after previously closing at $9.79, with approximately 510,843 shares traded.
• Analyst sentiment remains mixed: the stock has an overall “Moderate Buy” rating and an average price target of $38, although several firms recently downgraded or lowered their targets.
• Omeros reported a quarterly loss of $0.24 per share, beating estimates for a $0.40 loss, while revenue of $9.89 million exceeded the $4.19 million consensus forecast.

Omeros Corporation (NASDAQ:OMER - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $9.79, but opened at $11.25. Omeros shares last traded at $11.20, with a volume of 510,843 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have commented on OMER. Wall Street Zen downgraded Omeros from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Zacks Research cut Omeros from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. D. Boral Capital reissued a "buy" rating and set a $36.00 price target on shares of Omeros in a research report on Tuesday, April 21st. Weiss Ratings lowered Omeros from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 2nd. Finally, HC Wainwright decreased their price objective on Omeros from $40.00 to $33.00 and set a "buy" rating for the company in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.00.

Omeros Stock Up 9.3%

The stock has a market capitalization of $774.32 million, a P/E ratio of 15.29 and a beta of 2.55. The stock's 50 day moving average price is $10.27 and its 200-day moving average price is $11.47.

Omeros (NASDAQ:OMER - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The business had revenue of $9.89 million during the quarter, compared to the consensus estimate of $4.19 million. Analysts anticipate that Omeros Corporation will post -0.94 earnings per share for the current year.

Insider Activity

In other news, Director Thomas J. Cable sold 7,500 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total value of $87,075.00. Following the completion of the transaction, the director directly owned 35,067 shares of the company's stock, valued at approximately $407,127.87. The trade was a 17.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company's stock.

Institutional Investors Weigh In On Omeros

A number of institutional investors have recently added to or reduced their stakes in OMER. State of Wyoming bought a new position in Omeros in the fourth quarter worth about $25,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Omeros during the second quarter valued at about $32,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Omeros in the 4th quarter valued at about $33,000. Assetmark Inc. bought a new stake in shares of Omeros in the 1st quarter valued at about $38,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Omeros by 829.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company's stock worth $40,000 after buying an additional 11,971 shares during the last quarter. Institutional investors own 48.79% of the company's stock.

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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