Tocqueville Asset Management L.P. Cuts Stake in Omeros Corporation (OMER)
Tocqueville Asset Management L.P. cut its position in Omeros Corporation (NASDAQ:OMER) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 956,003 shares of the biopharmaceutical company’s stock after selling 32,675 shares during the period. Tocqueville Asset Management L.P. owned 2.44% of Omeros Corporation worth $10,057,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in Omeros Corporation by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,471,968 shares of the biopharmaceutical company’s stock worth $22,580,000 after buying an additional 10,605 shares during the period. UBS Group AG increased its position in shares of Omeros Corporation by 0.8% in the first quarter. UBS Group AG now owns 333,744 shares of the biopharmaceutical company’s stock worth $5,120,000 after buying an additional 2,631 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Omeros Corporation during the second quarter worth approximately $17,641,000. Finally, Chicago Equity Partners LLC bought a new position in shares of Omeros Corporation during the second quarter worth approximately $961,000. Institutional investors and hedge funds own 48.04% of the company’s stock.
Omeros Corporation (NASDAQ:OMER) traded up 2.59% during trading on Monday, reaching $7.53. 3,551,952 shares of the company’s stock traded hands. The firm’s 50 day moving average is $10.60 and its 200 day moving average is $11.73. The company’s market cap is $295.88 million. Omeros Corporation has a 12 month low of $7.26 and a 12 month high of $16.80.
Omeros Corporation (NASDAQ:OMER) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.18. The firm earned $10 million during the quarter, compared to the consensus estimate of $9.80 million. During the same period in the prior year, the company posted ($0.44) earnings per share. The company’s revenue for the quarter was up 212.5% compared to the same quarter last year. Analysts anticipate that Omeros Corporation will post ($1.55) EPS for the current year.
OMER has been the topic of several recent analyst reports. Maxim Group dropped their target price on Omeros Corporation from $30.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Wedbush reissued an “outperform” rating and set a $56.00 target price (down previously from $62.00) on shares of Omeros Corporation in a report on Thursday, August 11th. Zacks Investment Research cut Omeros Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. FBR & Co reissued an “outperform” rating and set a $38.00 target price on shares of Omeros Corporation in a report on Wednesday, June 29th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $21.00 target price on shares of Omeros Corporation in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.86.
In related news, VP Marcia S. Kelbon sold 15,900 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $11.56, for a total transaction of $183,804.00. Following the transaction, the vice president now owns 179,497 shares in the company, valued at approximately $2,074,985.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Marcia S. Kelbon sold 16,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $10.91, for a total transaction of $174,560.00. Following the transaction, the vice president now owns 179,597 shares in the company, valued at approximately $1,959,403.27. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.
Omeros Corporation Company Profile
Omeros Corporation is a biopharmaceutical company engaged in discovering, developing and commercializing small-molecule and protein therapeutics for market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. The Company’s marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens replacement.
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