Omeros (NASDAQ:OMER) Hits New 52-Week High - Should You Buy?

Key Points

• Omeros shares reached a new 52-week high of $19.65, while the stock has risen well above its 50-day and 200-day moving averages. The company has a $1.40 billion market capitalization and a beta of 2.54, indicating elevated volatility.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $38.00. However, ratings are mixed, ranging from Strong Buy and Buy to Hold.
• Omeros exceeded quarterly expectations, reporting $0.02 in earnings per share versus the projected loss of $0.27, while revenue of $28.53 million also surpassed estimates. Several institutional investors increased their holdings, although two insiders recently sold shares.

Shares of Omeros Corporation (NASDAQ:OMER - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $19.65 and last traded at $19.2040, with a volume of 334942 shares. The stock had previously closed at $19.32.

Wall Street Analysts Forecast Growth

OMER has been the topic of several research analyst reports. Wall Street Zen raised shares of Omeros from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research downgraded Omeros from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. HC Wainwright reiterated a "buy" rating on shares of Omeros in a research note on Monday, July 27th. Finally, Weiss Ratings raised Omeros from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Omeros Stock Performance

The stock has a market cap of $1.40 billion, a P/E ratio of 15.13 and a beta of 2.54. The stock's fifty day simple moving average is $11.93 and its 200-day simple moving average is $11.81.

Omeros (NASDAQ:OMER - Get Free Report) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.29. The business had revenue of $28.53 million for the quarter, compared to the consensus estimate of $12.69 million. As a group, equities research analysts forecast that Omeros Corporation will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO David J. Borges sold 5,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $16.95, for a total transaction of $84,750.00. Following the completion of the sale, the chief accounting officer directly owned 5,000 shares in the company, valued at approximately $84,750. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas J. Cable sold 15,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.45, for a total value of $276,750.00. Following the sale, the director directly owned 35,067 shares in the company, valued at approximately $646,986.15. This trade represents a 29.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On Omeros

Several hedge funds have recently bought and sold shares of the company. UBS Group AG grew its stake in shares of Omeros by 213.5% during the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company's stock worth $38,180,000 after buying an additional 1,513,893 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Omeros by 85.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 179,594 shares of the biopharmaceutical company's stock valued at $1,897,000 after acquiring an additional 82,646 shares in the last quarter. Corient Private Wealth LLC grew its position in Omeros by 13.0% during the 4th quarter. Corient Private Wealth LLC now owns 688,025 shares of the biopharmaceutical company's stock worth $11,817,000 after acquiring an additional 79,263 shares during the last quarter. Quantinno Capital Management LP raised its position in Omeros by 145.4% in the first quarter. Quantinno Capital Management LP now owns 61,541 shares of the biopharmaceutical company's stock valued at $650,000 after purchasing an additional 36,467 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new stake in shares of Omeros during the second quarter valued at about $312,000. 48.79% of the stock is owned by institutional investors.

Omeros Company Profile

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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