Omeros Corporation (NASDAQ:OMER – Get Free Report) shares were up 11.3% during mid-day trading on Monday . The stock traded as high as $9.58 and last traded at $9.6530. 2,005,229 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 1,633,257 shares. The stock had previously closed at $8.67.
Analysts Set New Price Targets
A number of research firms have recently weighed in on OMER. Weiss Ratings cut shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. D. Boral Capital restated a “buy” rating and issued a $36.00 target price on shares of Omeros in a research note on Tuesday, April 21st. HC Wainwright cut their price target on shares of Omeros from $40.00 to $33.00 and set a “buy” rating on the stock in a report on Friday. Finally, Zacks Research raised Omeros from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.00.
View Our Latest Analysis on OMER
Omeros Stock Up 14.6%
Omeros (NASDAQ:OMER – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS 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 analysts’ expectations of $4.19 million. As a group, equities analysts anticipate that Omeros Corporation will post -0.94 earnings per share for the current year.
Insider Activity
In other Omeros news, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company’s stock.
Institutional Investors Weigh In On Omeros
A number of large investors have recently made changes to their positions in OMER. International Assets Investment Management LLC increased its position in shares of Omeros by 16.0% in the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 800 shares during the period. Farther Finance Advisors LLC lifted its position in Omeros by 16.5% during the 4th 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 during the period. State of Wyoming acquired a new stake in Omeros during the 4th quarter worth about $25,000. AQR Capital Management LLC grew its stake in Omeros by 7.2% during the 4th quarter. AQR Capital Management LLC now owns 22,838 shares of the biopharmaceutical company’s stock valued at $392,000 after purchasing an additional 1,532 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in Omeros by 12.1% during the 4th quarter. ProShare Advisors LLC now owns 15,171 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 1,637 shares during the last quarter. 48.79% of the stock is owned by hedge funds and other institutional investors.
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.
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