Key Points
- Insider sale: Omeros Chief Accounting Officer David Borges sold 10,000 shares for $209,500 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 66.67% to 5,000 shares.
- Stock and earnings: OMER opened at $20.13, down 2.9%, with a market capitalization of $1.46 billion. Omeros reported quarterly EPS of $0.02, beating estimates by $0.29, while revenue of $28.53 million exceeded expectations.
- Analyst outlook: Institutional investors own 48.79% of the company, and analyst sentiment is a “Moderate Buy,” with an average price target of $34.00 versus the reported share price.
Omeros Corporation (NASDAQ:OMER - Get Free Report) CAO David Borges sold 10,000 shares of the business's stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $20.95, for a total transaction of $209,500.00. Following the transaction, the chief accounting officer directly owned 5,000 shares in the company, valued at approximately $104,750. The trade was a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Omeros Trading Down 2.9%
OMER opened at $20.13 on Friday. The company has a fifty day simple moving average of $16.00 and a 200 day simple moving average of $12.99. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 15.73 and a beta of 2.60. Omeros Corporation has a twelve month low of $4.05 and a twelve month high of $21.24.
Omeros (NASDAQ:OMER - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.29. The firm had revenue of $28.53 million during the quarter, compared to analyst estimates of $12.69 million. On average, analysts forecast that Omeros Corporation will post -0.37 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Omeros
A number of institutional investors have recently modified their holdings of OMER. Assetmark Inc. bought a new position in shares of Omeros during the first quarter worth about $38,000. International Assets Investment Management LLC increased 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 buying an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Omeros during the fourth quarter valued at approximately $159,000. Leonteq Securities AG acquired a new stake in Omeros during the first quarter valued at approximately $106,000. Finally, Engineers Gate Manager LP acquired a new stake in Omeros during the second quarter valued at approximately $138,000. Institutional investors and hedge funds own 48.79% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. HC Wainwright reiterated a "buy" rating on shares of Omeros in a research note on Monday, July 27th. Zacks Research lowered Omeros from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Weiss Ratings downgraded Omeros from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday. Wall Street Zen raised Omeros from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Cantor Fitzgerald upgraded Omeros from a "neutral" rating to an "overweight" rating and set a $22.00 target price for the company in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.00.
View Our Latest Research Report on OMER
Omeros Company Profile
(
Get Free Report)
Omeros Corporation is a biopharmaceutical company focused on discovering, developing and commercializing therapies for diseases involving the complement system, immune system and inflammation. The company is headquartered in Seattle, Washington, and was founded in 1994 by Gregory A. Demopulos, M.D., who serves as its chairman and chief executive officer.
Omeros' marketed product, OMIDRIA, is an ophthalmic solution containing phenylephrine and ketorolac. It is used during cataract surgery and other lens replacement procedures to help maintain pupil size and reduce postoperative pain and inflammation.
Further Reading
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