Omeros Corporation (NASDAQ:OMER - Get Free Report)'s share price was up 6.1% on Friday . The company traded as high as $9.73 and last traded at $9.78. 313,500 shares changed hands during trading, a decline of 81% from the average daily volume of 1,611,529 shares. The stock had previously closed at $9.22.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on OMER shares. Wall Street Zen downgraded Omeros from a "buy" rating to a "hold" rating in a research note on Sunday, June 7th. HC Wainwright dropped their price target on Omeros from $40.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Zacks Research cut Omeros from a "strong-buy" rating to a "hold" rating in a report on Monday. Weiss Ratings lowered shares of Omeros from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 2nd. Finally, D. Boral Capital reiterated a "buy" rating and set a $36.00 target price on shares of Omeros in a research report on Tuesday, April 21st. One 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.00.
Check Out Our Latest Analysis on OMER
Omeros Stock Performance
The business has a fifty day moving average of $10.76 and a 200-day moving average of $11.76. The company has a market capitalization of $709.69 million, a P/E ratio of 14.03 and a beta of 2.55.
Omeros (NASDAQ:OMER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The business had revenue of $9.89 million for the quarter, compared to the consensus estimate of $4.19 million. Sell-side analysts anticipate that Omeros Corporation will post -0.94 EPS for the current year.
Insider Buying and Selling at Omeros
In related 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 transaction, the director owned 35,067 shares of the company's stock, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Omeros
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming bought a new stake in shares of Omeros in the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Omeros during the fourth quarter valued at about $33,000. Assetmark Inc. purchased a new position in Omeros during the first quarter worth about $38,000. Arax Advisory Partners boosted its holdings in Omeros by 56.4% during the fourth quarter. Arax Advisory Partners now owns 5,255 shares of the biopharmaceutical company's stock worth $90,000 after purchasing an additional 1,894 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Omeros by 16.0% in the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 800 shares in the last quarter. 48.79% of the stock is owned by hedge funds and other institutional investors.
About Omeros
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Get Free Report)
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.
Further Reading
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