Omeros (NASDAQ:OMER) Trading Down 13.7% - Time to Sell?

Key Points

• Shares of Omeros Corporation (NASDAQ:OMER) dropped 13.7% during mid-day trading, with the stock trading as low as $8.55 after closing at $9.83.
• The company received mixed ratings from analysts, with a sell rating from Weiss Ratings and a strong-buy rating from WBB Securities, alongside a range of price targets from $9.00 to $45.00.
• Omeros reported quarterly earnings of ($0.53) per share, exceeding estimates by $0.02, with revenues significantly higher than expected at $28.60 million.

Shares of Omeros Corporation (NASDAQ:OMER - Get Free Report) dropped 13.7% during mid-day trading on Friday . The company traded as low as $8.55 and last traded at $8.49. Approximately 1,836,472 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 1,584,701 shares. The stock had previously closed at $9.83.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OMER. Weiss Ratings reissued a "sell (d-)" rating on shares of Omeros in a research note on Wednesday, October 8th. D. Boral Capital reiterated a "buy" rating and set a $36.00 price target on shares of Omeros in a report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Omeros in a research report on Wednesday. WBB Securities reissued a "strong-buy" rating and issued a $45.00 price target on shares of Omeros in a research note on Wednesday. Finally, HC Wainwright upped their price objective on Omeros from $9.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $27.50.

Omeros Trading Down 16.0%

The firm's fifty day moving average price is $4.49 and its 200 day moving average price is $4.55. The stock has a market capitalization of $562.04 million, a price-to-earnings ratio of -3.93 and a beta of 2.32.

Omeros (NASDAQ:OMER - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.02. The firm had revenue of $28.60 million during the quarter, compared to analyst estimates of $0.31 million. On average, analysts forecast that Omeros Corporation will post -3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OMER. B. Riley Wealth Advisors Inc. acquired a new position in Omeros in the second quarter valued at approximately $32,000. Harbour Investments Inc. raised its stake in Omeros by 46.1% during the 2nd quarter. Harbour Investments Inc. now owns 13,469 shares of the biopharmaceutical company's stock worth $40,000 after acquiring an additional 4,251 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Omeros by 829.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company's stock worth $40,000 after acquiring an additional 11,971 shares in the last quarter. Sei Investments Co. acquired a new stake in Omeros during the 2nd quarter worth $40,000. Finally, International Assets Investment Management LLC acquired a new stake in Omeros during the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 48.79% of the company's stock.

Omeros Company Profile

Omeros Corporation, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting immunologic diseases, including complement-mediated diseases, cancers, and addictive and compulsive disorders. The company's products under development include Narsoplimab (OMS721/MASP-2) that has completed pivotal trial for hematopoietic stem-cell transplant-associated thrombotic microangiopathy (TA-TMA); that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy (IgAN); and Phase II clinical trial to treat COVID-19.

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