Omeros Corporation (NASDAQ:OMER) Sees Large Growth in Short Interest

Omeros Corporation (NASDAQ:OMER) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 16,429,140 shares, a growth of 24.0% from the December 31st total of 13,247,185 shares. Approximately 26.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,516,886 shares, the days-to-cover ratio is presently 4.7 days. Based on an average daily trading volume, of 3,516,886 shares, the days-to-cover ratio is presently 4.7 days. Approximately 26.6% of the shares of the stock are sold short.

Omeros Price Performance

NASDAQ OMER traded up $0.03 during trading on Monday, hitting $11.72. 1,171,753 shares of the company’s stock traded hands, compared to its average volume of 2,562,344. The stock has a fifty day moving average of $12.01 and a two-hundred day moving average of $7.62. Omeros has a 12-month low of $2.95 and a 12-month high of $17.65. The firm has a market cap of $830.95 million, a P/E ratio of -5.80 and a beta of 2.45.

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

Insiders Place Their Bets

In other news, CAO David J. Borges sold 30,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $12.31, for a total transaction of $369,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank increased its stake in shares of Omeros by 8.6% in the fourth quarter. Comerica Bank now owns 38,000 shares of the biopharmaceutical company’s stock worth $653,000 after buying an additional 3,000 shares during the period. UBS Group AG increased its position in shares of Omeros by 213.5% in the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock valued at $38,180,000 after acquiring an additional 1,513,893 shares during the period. Vanguard Group Inc. increased its position 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 valued at $68,929,000 after acquiring an additional 666,357 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Omeros by 16.5% during the fourth quarter. Farther Finance Advisors LLC now owns 7,106 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 1,004 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Omeros by 9.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,728 shares of the biopharmaceutical company’s stock worth $545,000 after purchasing an additional 2,631 shares during the period. Institutional investors own 48.79% of the company’s stock.

Wall Street Analysts Forecast Growth

OMER has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Omeros in a report on Wednesday, October 15th. D. Boral Capital restated a “buy” rating and set a $36.00 price target on shares of Omeros in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Omeros in a research report on Thursday, January 22nd. WBB Securities reissued a “strong-buy” rating and set a $45.00 price objective on shares of Omeros in a research note on Wednesday, October 15th. Finally, Wall Street Zen lowered Omeros from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

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.