Insider Selling: Omeros (NASDAQ:OMER) Director Sells 7,500 Shares of Stock

Omeros Corporation (NASDAQ:OMER) Director Thomas Cable sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the completion of the transaction, the director owned 35,067 shares in the company, valued at $407,127.87. This represents a 17.62% decrease in their position. The transaction was disclosed in a 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.

Omeros Trading Down 5.0%

Shares of NASDAQ:OMER traded down $0.58 during mid-day trading on Wednesday, hitting $11.07. 4,355,541 shares of the company traded hands, compared to its average volume of 1,470,880. The stock has a 50-day moving average price of $12.30 and a two-hundred day moving average price of $11.67. Omeros Corporation has a 12-month low of $2.95 and a 12-month high of $17.65. The stock has a market cap of $801.19 million, a P/E ratio of 15.81 and a beta of 2.66.

Omeros (NASDAQ:OMER) last issued 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 for the quarter, compared to the consensus estimate of $4.19 million. As a group, analysts expect that Omeros Corporation will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On Omeros

Several large investors have recently modified their holdings of OMER. UBS Group AG increased its position in Omeros by 213.5% in the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock worth $38,180,000 after buying an additional 1,513,893 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Omeros by 1,201.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock valued at $1,706,000 after buying an additional 384,168 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Omeros by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after acquiring an additional 666,357 shares during the period. Coldstream Capital Management Inc. increased its holdings in Omeros by 107.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 53,605 shares of the biopharmaceutical company’s stock worth $921,000 after acquiring an additional 27,775 shares during the last quarter. Finally, AlphaCore Capital LLC purchased a new stake in Omeros in the 4th quarter worth about $303,000. Hedge funds and other institutional investors own 48.79% of the company’s stock.

Wall Street Analysts Forecast Growth

OMER has been the subject of several analyst reports. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. D. Boral Capital reaffirmed a “buy” rating and set a $36.00 price target on shares of Omeros in a research report on Tuesday, April 21st. Zacks Research upgraded Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Omeros in a research report on Thursday, May 14th. Finally, Weiss Ratings upgraded Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “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.