Key Points
- Director Thomas Cable sold 7,500 shares of Omeros at an average price of $11.61, totaling about $87,075. The sale reduced his direct stake by 17.62% and was made under a pre-arranged Rule 10b5-1 plan.
- Omeros shares fell 5% after the disclosure, with the stock opening at $11.07. The company’s shares have traded between a 52-week low of $2.95 and a high of $17.65.
- Omeros recently reported better-than-expected quarterly results, posting a smaller loss and higher revenue than analysts predicted. Despite mixed analyst moves, the stock currently carries an average Buy rating and a consensus target price of $40.33.
Omeros Corporation (NASDAQ:OMER - Get Free Report) Director Thomas Cable sold 7,500 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total value of $87,075.00. Following the sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Omeros Stock Down 5.0%
OMER stock opened at $11.07 on Thursday. The business has a fifty day moving average of $12.30 and a two-hundred day moving average of $11.67. The stock has a market cap of $801.25 million, a price-to-earnings ratio of 15.81 and a beta of 2.66. Omeros Corporation has a 52-week low of $2.95 and a 52-week high of $17.65.
Omeros (NASDAQ:OMER - Get Free Report) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.16. The business had revenue of $9.89 million for the quarter, compared to analyst estimates of $4.19 million. As a group, sell-side analysts anticipate that Omeros Corporation will post -0.94 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have issued reports on OMER shares. Zacks Research raised Omeros from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Wall Street Zen cut Omeros from a "buy" rating to a "hold" rating in a research note on Sunday, April 26th. Weiss Ratings raised Omeros from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, May 14th. D. Boral Capital restated a "buy" rating and set a $36.00 price target on shares of Omeros in a research report on Tuesday, April 21st. Finally, HC Wainwright restated a "buy" rating and set a $40.00 price target on shares of Omeros in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $40.33.
Get Our Latest Research Report on OMER
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming purchased a new position in shares of Omeros during the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Omeros during the fourth quarter worth $33,000. Assetmark Inc. purchased a new position in Omeros in the first quarter valued at $38,000. Arax Advisory Partners boosted its holdings in Omeros by 56.4% in the fourth quarter. Arax Advisory Partners now owns 5,255 shares of the biopharmaceutical company's stock valued at $90,000 after purchasing an additional 1,894 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Omeros by 16.0% in the first quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company's stock valued at $61,000 after purchasing an additional 800 shares during the period. 48.79% of the stock is currently 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.
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