Omeros (NASDAQ:OMER) Stock Price Breaks Above Fifty Day Moving Average – Should You Sell?

Omeros Corporation (NASDAQ:OMER)’s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 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 traded.

Analysts Set New Price Targets

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

Omeros Price Performance

The business’s 50 day moving average is $18.52 and its two-hundred day moving average is $13.44. The firm has a market capitalization of $1.37 billion, a PE ratio of 14.80 and a beta of 2.57.

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

Insider Activity at Omeros

In related news, CAO David J. Borges sold 10,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arnold C. Hanish sold 10,000 shares of the stock in a transaction on Thursday, August 27th. The shares were 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 in the company, valued at approximately $94,750. This represents a 66.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 105,906 shares of company stock worth $1,989,705 over the last quarter. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Omeros

Several hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in shares of Omeros by 75.3% in the 3rd quarter. Sterling Capital Management LLC now owns 1,764 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 758 shares in the last quarter. Assetmark Inc. bought a new position in shares of Omeros during the 1st quarter valued at about $38,000. International Assets Investment Management LLC increased its position in shares of 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 last quarter. GK Wealth Management LLC bought a new position in shares of Omeros during the 3rd quarter valued at about $65,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Omeros during the 3rd quarter valued at about $70,000. Institutional investors own 48.79% of the company’s stock.

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.