Omeros (NASDAQ:OMER) Trading 6.3% Higher - Should You Buy?

Key Points

• Shares jumped 6.3% to about $14.38 on Monday despite very light volume (134,559 shares, roughly a 91% decline vs. average); the stock has a market cap near $1.04 billion and sits above its 50- and 200-day moving averages.
• Analyst views are mixed but the consensus is a Moderate Buy with a price target of $40.33; Omeros reported quarterly EPS of $3.14 (beating estimates) even though analysts expect a -1.54 EPS for the current fiscal year.

Omeros Corporation (NASDAQ:OMER - Get Free Report)'s share price traded up 6.3% during mid-day trading on Monday . The stock traded as high as $14.05 and last traded at $14.3790. 134,559 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,432,369 shares. The stock had previously closed at $13.53.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. HC Wainwright boosted their target price on Omeros from $20.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, January 8th. Wall Street Zen downgraded Omeros from a "buy" rating to a "hold" rating in a research note on Sunday. Zacks Research upgraded Omeros from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. D. Boral Capital reaffirmed a "buy" rating and set a $36.00 target price on shares of Omeros in a research note on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Omeros in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Omeros has an average rating of "Moderate Buy" and a consensus price target of $40.33.

Omeros Stock Up 7.1%

The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -28.98 and a beta of 2.53. The company's 50-day simple moving average is $11.59 and its 200-day simple moving average is $10.76.

Omeros (NASDAQ:OMER - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The biopharmaceutical company reported $3.14 EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $3.69. As a group, analysts expect that Omeros Corporation will post -1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Omeros

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in Omeros during the 1st quarter worth about $357,000. XTX Topco Ltd acquired a new position in shares of Omeros in the second quarter worth about $191,000. Invesco Ltd. increased its position in shares of Omeros by 34.1% in the second quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company's stock worth $350,000 after acquiring an additional 29,644 shares in the last quarter. Marshall Wace LLP increased its position in shares of Omeros by 15.1% in the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company's stock worth $2,224,000 after acquiring an additional 97,224 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Omeros during the second quarter valued at approximately $40,000. Institutional investors and hedge funds 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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