Omeros (NASDAQ:OMER) Stock Price Down 6.9% - Here's Why

Key Points

• Omeros shares fell 6.9% on Thursday, trading as low as $9.52 before closing at $9.6550, well below the prior close of $10.37.
• Recent analyst sentiment has been mixed to cautious, with several firms downgrading the stock or cutting price targets; the current consensus rating remains “Moderate Buy” with an average price target of $38.00.
• The company recently posted better-than-expected quarterly results, reporting a smaller-than-expected loss of $0.24 per share and revenue of $9.89 million versus estimates of $4.19 million.

Omeros Corporation (NASDAQ:OMER - Get Free Report) shares fell 6.9% during trading on Thursday . The stock traded as low as $9.52 and last traded at $9.6550. Approximately 129,164 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,605,151 shares. The stock had previously closed at $10.37.

Analyst Upgrades and Downgrades

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

Omeros Trading Down 10.1%

The stock has a 50-day moving average price of $10.87 and a two-hundred day moving average price of $11.81. The stock has a market cap of $674.90 million, a price-to-earnings ratio of 13.32 and a beta of 2.55.

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

Insider Activity

In other news, Director Thomas J. Cable sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the sale, the director owned 35,067 shares of the company's stock, valued at $407,127.87. This trade represents a 17.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of Omeros

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

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.