Omeros (NASDAQ:OMER) Trading Up 10.6% – Still a Buy?

Omeros Corporation (NASDAQ:OMER) rose 10.6% on Monday . The company traded as high as $10.04 and last traded at $10.2660. Approximately 134,595 shares traded hands during trading, a decline of 92% from the average session volume of 1,626,281 shares. The stock had previously closed at $9.28.

Wall Street Analysts Forecast Growth

OMER has been the topic of a number of recent analyst reports. Zacks Research raised Omeros from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Wall Street Zen cut shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. HC Wainwright reduced their price objective on shares of Omeros from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Finally, D. Boral Capital reissued a “buy” rating and set a $36.00 price objective on shares of Omeros in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Omeros Stock Down 0.1%

The stock has a market capitalization of $747.69 million, a P/E ratio of 14.76 and a beta of 2.55. The company has a 50 day moving average of $11.40 and a 200-day moving average of $11.85.

Omeros (NASDAQ:OMER) last issued its earnings results 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 for the quarter, compared to analyst estimates of $4.19 million. Equities analysts forecast that Omeros Corporation will post -0.94 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Omeros by 57.8% during the 1st quarter. Bank of America Corp DE now owns 204,805 shares of the biopharmaceutical company’s stock worth $2,163,000 after buying an additional 74,997 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Omeros by 145.4% during the first quarter. Quantinno Capital Management LP now owns 61,541 shares of the biopharmaceutical company’s stock valued at $650,000 after acquiring an additional 36,467 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Omeros by 85.2% during the first quarter. Dimensional Fund Advisors LP now owns 179,594 shares of the biopharmaceutical company’s stock valued at $1,897,000 after acquiring an additional 82,646 shares during the period. Assetmark Inc. bought a new position in shares of Omeros during the first quarter worth about $38,000. Finally, NFSG Corp increased its holdings in shares of Omeros by 39.1% in the 1st quarter. NFSG Corp now owns 47,710 shares of the biopharmaceutical company’s stock worth $504,000 after acquiring an additional 13,400 shares during the period. Institutional investors and hedge funds own 48.79% of the company’s stock.

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.