Omeros (NASDAQ:OMER) Stock Crosses Above 200 Day Moving Average – Here’s Why

Omeros Corporation (NASDAQ:OMER) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $13.66 and traded as high as $20.24. Omeros shares last traded at $19.63, with a volume of 1,065,198 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OMER shares. Weiss Ratings upgraded shares of Omeros from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of Omeros from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. HC Wainwright reaffirmed a “buy” rating on shares of Omeros in a report on Monday, July 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $22.00 price objective on shares of Omeros in a research report on Wednesday. Finally, Zacks Research downgraded Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.00.

Omeros Price Performance

The business has a 50-day simple moving average of $18.12 and a 200 day simple moving average of $13.72. The firm has a market cap of $1.33 billion, a PE ratio of 14.40 and a beta of 2.57.

Omeros (NASDAQ:OMER) last announced its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 forecast that Omeros Corporation will post -0.37 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO David Borges sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $20.95, for a total transaction of $209,500.00. Following the sale, the chief accounting officer directly owned 5,000 shares in the company, valued at $104,750. This trade represents a 66.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas Cable sold 15,000 shares of Omeros stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.45, for a total transaction of $276,750.00. Following the transaction, the director owned 35,067 shares in the company, valued at approximately $646,986.15. This trade represents a 29.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,906 shares of company stock worth $1,989,705 in the last quarter. 10.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Omeros

Several large investors have recently made changes to their positions in OMER. Dimensional Fund Advisors LP grew its position in shares of Omeros by 85.2% during the first quarter. Dimensional Fund Advisors LP now owns 179,594 shares of the biopharmaceutical company’s stock worth $1,897,000 after purchasing an additional 82,646 shares in the last quarter. BlackRock Inc. bought a new stake in Omeros during the 2nd quarter valued at approximately $57,484,000. Corient Private Wealth LP purchased a new position in Omeros in the 2nd quarter worth approximately $6,274,000. State Street Corp lifted its holdings in Omeros by 20.9% in the 2nd quarter. State Street Corp now owns 2,319,906 shares of the biopharmaceutical company’s stock worth $22,062,000 after purchasing an additional 400,331 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Omeros in the 2nd quarter worth approximately $1,846,000. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

Omeros Company Profile

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.