Omeros (NASDAQ:OMER) Share Price Breaks Above 50 Day Moving Average – What’s Next?

Omeros Corporation (NASDAQ:OMER) passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $18.52 and traded as high as $19.28. Omeros shares last traded at $18.95, with a volume of 3,627,702 shares changing hands.

Wall Street Analysts Forecast Growth

OMER has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. HC Wainwright reissued a “buy” rating on shares of Omeros in a research note on Monday, July 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $22.00 price objective on shares of Omeros in a report on Wednesday, October 14th. Zacks Research downgraded shares of Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Omeros from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.33.

Omeros Stock Down 2.7%

The stock has a 50-day moving average price of $18.52 and a 200 day moving average price of $13.47. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 14.41 and a beta of 2.57.

Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Wednesday, August 12th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.29. The firm had revenue of $28.53 million for the quarter, compared to analyst estimates of $12.69 million. As a group, equities analysts forecast that Omeros Corporation will post -0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Arnold C. Hanish sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $94,750. This represents a 66.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO David J. Borges sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $18.95, for a total transaction of $189,500.00. Following the sale, the chief accounting officer directly owned 5,906 shares in the company, valued at approximately $111,918.70. The trade was a 62.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 105,906 shares of company stock worth $1,989,705. 10.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OMER. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Omeros in the third quarter valued at approximately $70,000. Profund Advisors LLC lifted its holdings in shares of Omeros by 206.3% during the third quarter. Profund Advisors LLC now owns 80,616 shares of the biopharmaceutical company’s stock worth $1,535,000 after purchasing an additional 54,297 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Omeros by 13.6% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 17,500 shares of the biopharmaceutical company’s stock worth $333,000 after purchasing an additional 2,100 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Omeros by 3.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 15,708 shares of the biopharmaceutical company’s stock valued at $302,000 after buying an additional 589 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Omeros by 75.3% in the 3rd quarter. Sterling Capital Management LLC now owns 1,764 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 758 shares during the last quarter. 48.79% of the stock is owned by hedge funds and other institutional investors.

About Omeros

Omeros Corporation (NASDAQ: OMER) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for disorders involving the complement, immune and coagulation systems. The company has also developed a pipeline of investigational therapies aimed at treating serious diseases involving complement activation and immune-system dysfunction. The company is headquartered in Seattle, Washington, and was founded in 1994.

Its leading investigational programs have included narsoplimab, which targets the lectin pathway of the complement system, and OMS906, an antibody designed to inhibit MASP-3 and regulate the alternative pathway.