Omeros (NASDAQ:OMER) Issues Earnings Results, Beats Estimates By $0.16 EPS

Omeros (NASDAQ:OMER) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16, FiscalAI reports. The company had revenue of $9.89 million during the quarter, compared to analyst estimates of $10.05 million.

Here are the key takeaways from Omeros’ conference call:

• YARTEMLEA had a strong early launch, generating $11.1 million of gross revenue and $9.9 million of net revenue in Q1, with management saying the product became cash flow positive during the quarter and could drive company-wide positive cash flow within 18 months.
• Commercial adoption appears ahead of plan, with 30 unique accounts ordering by March 31 and rapid progress on access, including P&T approvals at many top transplant centers and all prior authorization requests to commercial payers approved so far.
• The company received important reimbursement tailwinds for YARTEMLEA, including a permanent CMS J-code effective July 1 and a recommended NTAP approval that could become effective later this year, both of which should simplify billing and support uptake.
• Omeros ended the quarter with $135.3 million in cash and investments after retiring its remaining 2026 convertible notes, while the Novo Nordisk transaction provided $240 million upfront and up to $100 million more in near-term milestones.
• Beyond the launch, management highlighted several pipeline opportunities, including EU review of YARTEMLEA, expansion into additional complement-mediated indications, and continued development of OMS1029, the oral MASP-2 program, OMS527, TCAT, and OncotoX-AML.

Omeros Stock Down 9.0%

Shares of OMER stock traded down $1.30 on Thursday, reaching $13.08. The stock had a trading volume of 2,763,498 shares, compared to its average volume of 1,418,545. The firm has a market capitalization of $944.06 million, a price-to-earnings ratio of -26.24 and a beta of 2.66. Omeros has a 12 month low of $2.95 and a 12 month high of $17.65. The firm’s 50-day moving average is $12.22 and its two-hundred day moving average is $11.35.

Institutional Investors Weigh In On Omeros

Several hedge funds have recently bought and sold shares of OMER. Acadian Asset Management LLC acquired a new stake in Omeros during the first quarter worth approximately $357,000. XTX Topco Ltd acquired a new stake in Omeros during the second quarter worth approximately $191,000. Invesco Ltd. lifted its position in Omeros by 34.1% during the second quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company’s stock worth $350,000 after acquiring an additional 29,644 shares during the last quarter. Marshall Wace LLP lifted its position in Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock worth $2,224,000 after acquiring an additional 97,224 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Omeros during the second quarter worth approximately $40,000. 48.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OMER. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 target price on shares of Omeros in a research note on Tuesday, April 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Omeros in a research note on Tuesday, April 21st. Finally, HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Omeros in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Omeros currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

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.