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

Omeros Corporation (NASDAQ:OMER)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.41 and traded as high as $13.05. Omeros shares last traded at $12.94, with a volume of 1,645,947 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on OMER. Zacks Research cut shares of Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. HC Wainwright restated a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Wall Street Zen cut shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Weiss Ratings raised Omeros from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, D. Boral Capital restated a “buy” rating and set a $36.00 target price on shares of Omeros in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Omeros Stock Up 4.0%

The business’s 50-day simple moving average is $10.36 and its 200 day simple moving average is $11.43. The firm has a market capitalization of $951.73 million, a P/E ratio of 18.79 and a beta of 2.54.

Omeros (NASDAQ:OMER) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. The business had revenue of $9.89 million during the quarter, compared to the consensus estimate of $4.19 million. Sell-side analysts predict that Omeros Corporation will post -0.94 earnings per share for the current year.

Insider Activity at Omeros

In related news, Director Thomas J. Cable sold 7,500 shares of Omeros 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 transaction, the director directly owned 35,067 shares of the company’s stock, valued at $407,127.87. The trade was a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC increased its position in Omeros by 16.0% during the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 800 shares during the period. Farther Finance Advisors LLC lifted its holdings 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 purchasing an additional 1,004 shares during the last quarter. State of Wyoming bought a new stake in Omeros in the fourth quarter worth $25,000. AQR Capital Management LLC boosted its stake in Omeros by 7.2% in the 4th quarter. AQR Capital Management LLC now owns 22,838 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 1,532 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Omeros by 12.1% during the fourth quarter. ProShare Advisors LLC now owns 15,171 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 1,637 shares during the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

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.