Omeros (NASDAQ:OMER) Sees Large Volume Increase – Still a Buy?

Shares of Omeros Corporation (NASDAQ:OMER) saw strong trading volume on Friday . 1,266,324 shares traded hands during trading, a decline of 14% from the previous session’s volume of 1,474,020 shares.The stock last traded at $8.4990 and had previously closed at $10.18.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. D. Boral Capital reaffirmed a “buy” rating and set a $36.00 price objective on shares of Omeros in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Omeros in a research report on Wednesday. Two research analysts have 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Omeros Stock Down 15.8%

The company has a market cap of $620.73 million, a P/E ratio of 12.16 and a beta of 2.52. The stock’s 50-day moving average price is $12.25 and its 200 day moving average price is $11.88.

Omeros (NASDAQ:OMER) last released its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $9.89 million during the quarter, compared to the consensus estimate of $4.19 million. Analysts expect that Omeros Corporation will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thomas J. Cable sold 7,500 shares of the firm’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 sale, the director owned 35,067 shares in the company, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Omeros

Several hedge funds and other institutional investors have recently modified their holdings of OMER. State of Wyoming acquired a new stake in shares of Omeros in the fourth quarter worth $25,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Omeros in the second quarter worth $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Omeros in the fourth quarter worth $33,000. Assetmark Inc. acquired a new stake in shares of Omeros in the first quarter worth $38,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Omeros by 829.6% in the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 11,971 shares during the last quarter. 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.