Omeros (NASDAQ:OMER) Shares Up 10.6% – Time to Buy?

Omeros Corporation (NASDAQ:OMER) traded up 10.6% on Monday . The stock traded as high as $10.04 and last traded at $10.2660. Approximately 134,595 shares changed hands during trading, a decline of 92% from the average daily volume of 1,626,281 shares. The stock had previously closed at $9.28.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. HC Wainwright decreased their price target on Omeros from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. D. Boral Capital reiterated a “buy” rating and issued a $36.00 price objective on shares of Omeros in a research report on Tuesday, April 21st. Zacks Research raised Omeros from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Weiss Ratings cut Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen lowered Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Omeros Price Performance

The stock’s 50 day simple moving average is $11.52 and its two-hundred day simple moving average is $11.83. The company has a market capitalization of $723.94 million, a P/E ratio of 14.35 and a beta of 2.55.

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

Insider Transactions at Omeros

In other Omeros news, Director Thomas J. Cable sold 7,500 shares of the stock in a transaction on Friday, May 22nd. The stock was 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 in the company, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Omeros

Several large investors have recently made changes to their positions in OMER. International Assets Investment Management LLC increased its position in Omeros by 16.0% in the first quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 800 shares during the period. Farther Finance Advisors LLC lifted its position in Omeros by 16.5% during the 4th 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 period. State of Wyoming bought a new position in shares of Omeros in the 4th quarter valued at about $25,000. AQR Capital Management LLC boosted its stake in shares of Omeros by 7.2% in the 4th quarter. AQR Capital Management LLC now owns 22,838 shares of the biopharmaceutical company’s stock valued at $392,000 after purchasing an additional 1,532 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Omeros by 12.1% during the 4th quarter. ProShare Advisors LLC now owns 15,171 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 1,637 shares during the period. 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.