Omeros (NASDAQ:OMER) Shares Gap Down Following Analyst Downgrade

Omeros Corporation (NASDAQ:OMER) shares gapped down prior to trading on Friday after HC Wainwright lowered their price target on the stock from $40.00 to $33.00. The stock had previously closed at $10.72, but opened at $7.59. HC Wainwright currently has a buy rating on the stock. Omeros shares last traded at $8.6230, with a volume of 1,928,167 shares traded.

Several other analysts also recently issued reports on OMER. Weiss Ratings downgraded Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. D. Boral Capital reaffirmed a “buy” rating and set a $36.00 price objective on shares of Omeros in a report on Tuesday, April 21st. Wall Street Zen cut shares of Omeros from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Two investment 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 issued a Sell rating to the stock. According to MarketBeat, Omeros currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Insider Transactions at Omeros

In other news, Director Thomas J. Cable sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total transaction of $87,075.00. Following the sale, the director directly owned 35,067 shares of the company’s stock, valued at $407,127.87. This represents a 17.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Omeros

Several institutional investors have recently made changes to their positions in OMER. State of Wyoming bought a new stake in Omeros in the fourth quarter worth about $25,000. B. Riley Wealth Advisors Inc. bought a new position in Omeros during the 2nd quarter worth about $32,000. Caitong International Asset Management Co. Ltd purchased a new position in Omeros during the fourth quarter valued at approximately $33,000. Assetmark Inc. purchased a new position in shares of Omeros in the 1st quarter valued at $38,000. Finally, Tower Research Capital LLC TRC raised its holdings in Omeros by 829.6% in the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 11,971 shares in the last quarter. Institutional investors own 48.79% of the company’s stock.

Omeros Stock Performance

The firm’s 50 day moving average is $11.97 and its 200 day moving average is $11.88. The stock has a market cap of $616.03 million, a P/E ratio of 12.19 and a beta of 2.52.

Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $9.89 million during the quarter, compared to analyst estimates of $4.19 million. As a group, analysts expect that Omeros Corporation will post -0.94 EPS for the current fiscal year.

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.