Omeros (NASDAQ:OMER) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Omeros Corporation (NASDAQ:OMER) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.21 and traded as high as $12.14. Omeros shares last traded at $11.69, with a volume of 790,665 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OMER. Wall Street Zen cut shares of Omeros from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. HC Wainwright boosted their target price on Omeros from $20.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. D. Boral Capital reissued a “buy” rating and issued a $36.00 price target on shares of Omeros in a report on Tuesday, January 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Omeros in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Omeros Stock Up 2.2%

The stock has a fifty day moving average price of $12.29 and a two-hundred day moving average price of $8.21. The company has a market capitalization of $828.82 million, a price-to-earnings ratio of -5.79 and a beta of 2.45.

Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.39. As a group, research analysts forecast that Omeros Corporation will post -3.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO David J. Borges sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $12.31, for a total value of $369,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Omeros

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in Omeros in the 1st quarter valued at $357,000. Harbour Investments Inc. grew its position in shares of Omeros by 46.1% in the second quarter. Harbour Investments Inc. now owns 13,469 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 4,251 shares during the period. International Assets Investment Management LLC acquired a new position in Omeros in the second quarter valued at $47,000. Bank of Montreal Can lifted its position in Omeros by 1.4% during the second quarter. Bank of Montreal Can now owns 571,095 shares of the biopharmaceutical company’s stock worth $1,713,000 after buying an additional 8,000 shares during the period. Finally, Corton Capital Inc. acquired a new stake in Omeros in the 2nd quarter worth about $117,000. 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.