Omeros (NASDAQ:OMER) Stock Price Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• Omeros shares broke above their 200-day moving average, trading as high as $20.24 versus the $13.66 average, before closing at $19.63 on volume of about 1.07 million shares.
• Analyst sentiment is generally positive: the stock has a consensus “Moderate Buy” rating and a $34 price target, although ratings range from Strong Buy to Hold.
• Omeros beat quarterly expectations, reporting $0.02 in EPS versus the projected $0.27 loss and revenue of $28.53 million versus estimates of $12.69 million. However, insiders sold 105,906 shares worth nearly $2.0 million over the last quarter.

Shares of Omeros Corporation (NASDAQ:OMER - Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $13.66 and traded as high as $20.24. Omeros shares last traded at $19.63, with a volume of 1,065,198 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on OMER. Wall Street Zen upgraded 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 note on Monday, July 13th. HC Wainwright reiterated a "buy" rating on shares of Omeros in a report on Monday, July 27th. Weiss Ratings upgraded shares of Omeros from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday. Finally, Cantor Fitzgerald upgraded shares of Omeros from a "neutral" rating to an "overweight" rating and set a $22.00 target price on the stock in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Omeros Stock Down 1.0%

The company has a market cap of $1.42 billion, a P/E ratio of 15.34 and a beta of 2.57. The firm's 50 day moving average is $18.00 and its two-hundred day moving average is $13.66.

Omeros (NASDAQ:OMER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.29. The company had revenue of $28.53 million during the quarter, compared to analyst estimates of $12.69 million. As a group, research analysts forecast that Omeros Corporation will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

In other Omeros news, Director Arnold Hanish sold 10,000 shares of the company's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the sale, the director owned 5,000 shares in the company, valued at approximately $94,750. The trade was a 66.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO David Borges sold 10,000 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $20.95, for a total value of $209,500.00. Following the completion of the sale, the chief accounting officer directly owned 5,000 shares of the company's stock, valued at approximately $104,750. The trade was a 66.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 105,906 shares of company stock worth $1,989,705. Corporate insiders own 10.50% of the company's stock.

Institutional Trading of Omeros

Several institutional investors have recently added to or reduced their stakes in OMER. Dimensional Fund Advisors LP raised its holdings in Omeros by 85.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 179,594 shares of the biopharmaceutical company's stock worth $1,897,000 after purchasing an additional 82,646 shares during the last quarter. BlackRock Inc. bought a new position in Omeros during the 2nd quarter worth approximately $57,484,000. Corient Private Wealth LP acquired a new position in shares of Omeros in the 2nd quarter worth approximately $6,274,000. Bank of New York Mellon Corp acquired a new position in shares of Omeros in the 2nd quarter worth approximately $1,864,000. Finally, Legal & General Group Plc acquired a new position in shares of Omeros in the 2nd quarter worth approximately $425,000. 48.79% of the stock is currently owned by institutional investors.

About Omeros

Omeros Corporation NASDAQ: OMER is a biopharmaceutical company focused on discovering, developing and commercializing therapies for disorders involving the complement, immune and coagulation systems. The company has also developed a pipeline of investigational therapies aimed at treating serious diseases involving complement activation and immune-system dysfunction. The company is headquartered in Seattle, Washington, and was founded in 1994.

Its leading investigational programs have included narsoplimab, which targets the lectin pathway of the complement system, and OMS906, an antibody designed to inhibit MASP-3 and regulate the alternative pathway.

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