Omeros (NASDAQ:OMER) Sets New 1-Year High – Here’s Why

Omeros Corporation (NASDAQ:OMER)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $18.23 and last traded at $18.2850, with a volume of 1217358 shares changing hands. The stock had previously closed at $17.19.

Analyst Upgrades and Downgrades

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

Omeros Stock Up 7.2%

The company’s 50-day simple moving average is $11.18 and its 200 day simple moving average is $11.61. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 14.46 and a beta of 2.54.

Omeros (NASDAQ:OMER) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.29. The company had revenue of $28.53 million for the quarter, compared to the consensus estimate of $12.69 million. On average, equities analysts expect that Omeros Corporation will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO David J. Borges sold 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $16.95, for a total value of $84,750.00. Following the completion of the sale, the chief accounting officer directly owned 5,000 shares in the company, valued at approximately $84,750. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas J. Cable sold 7,500 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total transaction of $87,075.00. Following the sale, the director directly owned 35,067 shares of the company’s stock, valued at approximately $407,127.87. This represents a 17.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Omeros during the second quarter valued at about $57,484,000. Vanguard Group Inc. increased its stake in shares of Omeros by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after purchasing an additional 666,357 shares during the period. UBS Group AG lifted its position in shares of Omeros by 213.5% during the 4th quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock worth $38,180,000 after purchasing an additional 1,513,893 shares during the last quarter. Geode Capital Management LLC boosted its stake in Omeros by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock valued at $28,026,000 after purchasing an additional 95,979 shares during the period. Finally, State Street Corp boosted its stake in Omeros by 26.9% during the 4th 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. 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.