Key Points
- Director Thomas Cable sold 15,000 Omeros shares at an average price of $18.45, generating $276,750 and reducing his ownership by 29.96% to 35,067 shares.
- Omeros reported quarterly earnings of $0.02 per share, beating the consensus estimate of a $0.27 loss, while revenue of $28.53 million also exceeded expectations.
- The stock opened at $19.27, near its 52-week high of $19.58. Analysts maintain a consensus “Moderate Buy” rating with a $38.00 price target, and institutional investors own 48.79% of the shares.
Omeros Corporation (NASDAQ:OMER - Get Free Report) Director Thomas Cable sold 15,000 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.45, for a total value of $276,750.00. Following the completion of the sale, the director owned 35,067 shares in the company, valued at approximately $646,986.15. This represents a 29.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Omeros Stock Performance
NASDAQ:OMER opened at $19.27 on Friday. The stock has a 50-day simple moving average of $11.73 and a 200-day simple moving average of $11.76. The stock has a market cap of $1.39 billion, a P/E ratio of 15.05 and a beta of 2.54. Omeros Corporation has a 1 year low of $3.94 and a 1 year high of $19.58.
Omeros (NASDAQ:OMER - Get Free Report) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share 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 analyst estimates of $12.69 million. On average, equities research analysts predict that Omeros Corporation will post -0.37 EPS for the current year.
Hedge Funds Weigh In On Omeros
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Omeros in the 2nd quarter valued at $57,484,000. UBS Group AG grew its position in Omeros by 213.5% during the 4th quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company's stock worth $38,180,000 after purchasing an additional 1,513,893 shares during the last quarter. Vanguard Group Inc. grew its position in Omeros by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company's stock worth $68,929,000 after purchasing an additional 666,357 shares during the last quarter. Corient Private Wealth LP acquired a new position in Omeros in the second quarter valued at $6,274,000. Finally, JPMorgan Chase & Co. increased its stake in Omeros by 1,201.1% in the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company's stock valued at $1,706,000 after purchasing an additional 384,168 shares during the period. 48.79% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on OMER. Wall Street Zen upgraded shares of Omeros from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Omeros from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. HC Wainwright reiterated a "buy" rating on shares of Omeros in a research note on Monday, July 27th. Finally, Zacks Research cut shares of Omeros from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.
View Our Latest Analysis on OMER
About Omeros
(
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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