Omeros (NASDAQ:OMER) Announces Quarterly Earnings Results

Omeros (NASDAQ:OMER) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.29, FiscalAI reports.

Here are the key takeaways from Omeros’ conference call:

• YARTEMLEA generated $32.2 million in gross sales and $28.5 million in net sales in its first full quarter, with net sales up 188% sequentially. Adoption expanded to 73 transplant-center accounts, and adult patients represented approximately 75% of sales.
• Reimbursement support strengthened as YARTEMLEA received a permanent CMS J-code and an approved NTAP of up to $287,000 per inpatient treatment course, effective October 1. The company also generated $4.1 million in positive operating cash flow and expects to remain on track for company-wide cash-flow positivity by mid-2027.
• Omeros reduced its 2029 convertible-note principal by 43% to $40.3 million, lowering future interest expense and potential dilution by approximately 5.8 million shares year to date.
• The European Medicines Agency’s CHMP issued a negative opinion on YARTEMLEA’s TA-TMA application; Omeros has requested re-examination. The company is not providing revenue guidance and expects higher third-quarter operating expenses from continued commercial investment and increased OMS805 development spending.

Omeros Trading Up 0.8%

Omeros stock traded up $0.11 during mid-day trading on Wednesday, hitting $13.71. The company had a trading volume of 3,396,409 shares, compared to its average volume of 1,613,719. The company has a market capitalization of $992.26 million, a price-to-earnings ratio of 19.59 and a beta of 2.54. Omeros has a 12-month low of $3.94 and a 12-month high of $17.65. The company’s fifty day moving average is $10.60 and its 200-day moving average is $11.47.

Analysts Set New Price Targets

Several analysts have weighed in on OMER shares. D. Boral Capital reiterated a “buy” rating and set a $36.00 price target on shares of Omeros in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Zacks Research lowered shares of Omeros from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Omeros from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Finally, HC Wainwright reiterated a “buy” rating on shares of Omeros in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Insider Activity

In related news, Director Thomas J. Cable sold 7,500 shares of the business’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 directly owned 35,067 shares in the company, valued at $407,127.87. The trade was a 17.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Omeros

Several hedge funds have recently modified their holdings of OMER. Vanguard Group Inc. increased its stake in shares of Omeros by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,346,958 shares of the biopharmaceutical company’s stock valued at $13,723,000 after purchasing an additional 63,381 shares in the last quarter. Geode Capital Management LLC boosted its position in Omeros by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock worth $28,026,000 after purchasing an additional 95,979 shares in the last quarter. State Street Corp grew its holdings in Omeros by 26.9% in the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock valued at $27,025,000 after purchasing an additional 333,798 shares during the period. Two Sigma Investments LP grew its holdings in Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after purchasing an additional 263,095 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Omeros by 15.1% in the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock valued at $2,224,000 after buying an additional 97,224 shares in 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.