Omeros (NASDAQ:OMER) Shares Gap Up – Here’s What Happened

Omeros Corporation (NASDAQ:OMER) gapped up prior to trading on Monday . The stock had previously closed at $9.79, but opened at $11.25. Omeros shares last traded at $11.20, with a volume of 510,843 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OMER. Weiss Ratings lowered Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Wall Street Zen downgraded Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. HC Wainwright reaffirmed a “buy” rating on shares of Omeros in a research report on Monday. D. Boral Capital reaffirmed a “buy” rating and set a $36.00 price target on shares of Omeros in a research note on Tuesday, April 21st. Finally, Zacks Research lowered Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Omeros has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Omeros Trading Down 0.5%

The business’s fifty day moving average price is $10.25 and its two-hundred day moving average price is $11.44. The firm has a market cap of $816.45 million, a P/E ratio of 16.11 and a beta of 2.55.

Omeros (NASDAQ:OMER) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) 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. Research analysts predict that Omeros Corporation will post -0.94 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas J. Cable sold 7,500 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $11.61, for a total transaction of $87,075.00. Following the completion of the sale, the director owned 35,067 shares in the company, valued at approximately $407,127.87. This represents a 17.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Omeros

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMER. State of Wyoming bought a new stake in Omeros during the fourth quarter worth approximately $25,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Omeros in the second quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Omeros in the fourth quarter worth $33,000. Assetmark Inc. acquired a new stake in shares of Omeros in the first quarter worth $38,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Omeros by 829.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 11,971 shares during the period. 48.79% of the stock is currently owned by institutional investors and hedge funds.

About Omeros

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.