Omeros (NASDAQ:OMER) Posts Earnings Results, Beats Estimates By $0.29 EPS

Omeros (NASDAQ:OMER) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.29, FiscalAI reports.

Here are the key takeaways from Omeros’ conference call:

• YARTEMLEA generated $32.2 million in gross sales and $28.5 million in net sales in its first full quarter, with net sales up 188% sequentially. Adoption expanded to 73 transplant-center accounts, and adult patients represented approximately 75% of sales.
• Reimbursement support strengthened as YARTEMLEA received a permanent CMS J-code and an approved NTAP of up to $287,000 per inpatient treatment course, effective October 1. The company also generated $4.1 million in positive operating cash flow and expects to remain on track for company-wide cash-flow positivity by mid-2027.
• Omeros reduced its 2029 convertible-note principal by 43% to $40.3 million, lowering future interest expense and potential dilution by approximately 5.8 million shares year to date.
• The European Medicines Agency’s CHMP issued a negative opinion on YARTEMLEA’s TA-TMA application; Omeros has requested re-examination. The company is not providing revenue guidance and expects higher third-quarter operating expenses from continued commercial investment and increased OMS805 development spending.

Omeros Price Performance

Shares of NASDAQ:OMER traded up $0.11 during trading on Wednesday, reaching $13.71. The stock had a trading volume of 3,396,409 shares, compared to its average volume of 1,613,719. The stock has a market capitalization of $992.26 million, a PE ratio of 19.59 and a beta of 2.54. Omeros has a 52 week low of $3.94 and a 52 week high of $17.65. The business’s 50-day moving average price is $10.60 and its 200 day moving average price is $11.47.

Insider Buying and Selling

In other 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 transaction of $87,075.00. Following the sale, the director owned 35,067 shares in the company, valued at approximately $407,127.87. This represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of Omeros

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Omeros by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,346,958 shares of the biopharmaceutical company’s stock worth $13,723,000 after buying an additional 63,381 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Omeros by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock valued at $28,026,000 after buying an additional 95,979 shares during the period. State Street Corp raised its position in shares of Omeros by 26.9% during the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock worth $27,025,000 after acquiring an additional 333,798 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Omeros by 39.3% during the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after acquiring an additional 263,095 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock valued at $2,224,000 after acquiring an additional 97,224 shares during the period. Institutional investors and hedge funds own 48.79% of the company’s stock.

Analyst Ratings Changes

OMER has been the subject of several recent research reports. Zacks Research lowered shares of Omeros from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. D. Boral Capital reaffirmed a “buy” rating and set a $36.00 price objective on shares of Omeros in a report on Tuesday, April 21st. Wall Street Zen cut Omeros from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. HC Wainwright restated a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded Omeros from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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.