Omeros (NASDAQ:OMER) Trading Down 7.6% – Time to Sell?

Omeros Corporation (NASDAQ:OMER) shares fell 7.6% during trading on Thursday . The company traded as low as $12.94 and last traded at $13.2850. 1,525,300 shares were traded during trading, an increase of 9% from the average session volume of 1,405,458 shares. The stock had previously closed at $14.38.

Analyst Ratings Changes

OMER has been the topic of a number of recent research reports. Weiss Ratings upgraded Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday. Zacks Research upgraded shares of Omeros from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Omeros in a research report on Thursday. D. Boral Capital restated a “buy” rating and issued a $36.00 target price on shares of Omeros in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered Omeros from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $40.33.

Omeros Price Performance

The firm has a fifty day moving average price of $12.26 and a 200 day moving average price of $11.40. The firm has a market capitalization of $886.66 million, a PE ratio of 17.50 and a beta of 2.66.

Omeros (NASDAQ:OMER) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $9.89 million during the quarter, compared to the consensus estimate of $4.19 million. On average, sell-side analysts expect that Omeros Corporation will post -1.54 EPS for the current year.

Institutional Investors Weigh In On Omeros

A number of institutional investors and hedge funds have recently made changes to their positions in OMER. International Assets Investment Management LLC grew its stake in shares of 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 in the last quarter. Farther Finance Advisors LLC raised its position in Omeros by 16.5% during the fourth quarter. Farther Finance Advisors LLC now owns 7,106 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 1,004 shares in the last quarter. State of Wyoming acquired a new stake in Omeros in the fourth quarter valued at $25,000. AQR Capital Management LLC lifted its stake in Omeros by 7.2% in the fourth quarter. AQR Capital Management LLC now owns 22,838 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 1,532 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Omeros by 12.1% in the 4th quarter. ProShare Advisors LLC now owns 15,171 shares of the biopharmaceutical company’s stock valued at $261,000 after acquiring an additional 1,637 shares during the period. Institutional investors own 48.79% of the company’s stock.

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.