Omeros (NASDAQ:OMER) CAO David Borges Sells 10,000 Shares of Company Stock

Omeros Corporation (NASDAQ:OMER) CAO David Borges sold 10,000 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $20.95, for a total value of $209,500.00. Following the transaction, the chief accounting officer owned 5,000 shares in the company, valued at $104,750. This trade represents a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Omeros Price Performance

OMER opened at $20.13 on Friday. Omeros Corporation has a 12 month low of $4.05 and a 12 month high of $21.24. The business has a 50-day moving average of $16.00 and a two-hundred day moving average of $12.99. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 15.73 and a beta of 2.60.

Omeros (NASDAQ:OMER) last announced its quarterly earnings data 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 company had revenue of $28.53 million for the quarter, compared to analysts’ expectations of $12.69 million. Equities research analysts anticipate that Omeros Corporation will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OMER shares. Cantor Fitzgerald upgraded shares of Omeros from a “neutral” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Tuesday. HC Wainwright reiterated a “buy” rating on shares of Omeros in a report on Monday, July 27th. Weiss Ratings downgraded Omeros from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Zacks Research lowered Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded Omeros from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Institutional Trading of Omeros

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in Omeros by 20.9% in the second quarter. State Street Corp now owns 2,319,906 shares of the biopharmaceutical company’s stock valued at $22,062,000 after purchasing an additional 400,331 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Omeros in the second quarter worth about $138,000. Squarepoint Ops LLC acquired a new stake in shares of Omeros in the second quarter valued at about $523,000. Arizona State Retirement System acquired a new stake in shares of Omeros in the second quarter valued at about $179,000. Finally, HighTower Advisors LLC raised its holdings in shares of Omeros by 4.3% during the 2nd quarter. HighTower Advisors LLC now owns 115,368 shares of the biopharmaceutical company’s stock valued at $1,097,000 after buying an additional 4,738 shares during the period. 48.79% of the stock is owned by hedge funds and other institutional investors.

About Omeros

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.