Omeros (NASDAQ:OMER) Trading Down 6.2% – Should You Sell?

Omeros Corporation (NASDAQ:OMER)’s stock price fell 6.2% on Wednesday . The stock traded as low as $10.94 and last traded at $10.9220. 2,060,822 shares changed hands during trading, an increase of 42% from the average session volume of 1,447,658 shares. The stock had previously closed at $11.65.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. D. Boral Capital restated a “buy” rating and set a $36.00 price target on shares of Omeros in a research note on Tuesday, April 21st. Weiss Ratings upgraded shares of Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 14th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Omeros in a report on Thursday, May 14th. Zacks Research upgraded shares of Omeros from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen cut shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $40.33.

Omeros Trading Down 5.0%

The stock has a market cap of $801.26 million, a PE ratio of 15.82 and a beta of 2.66. The business has a 50 day moving average of $12.30 and a 200-day moving average of $11.64.

Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $9.89 million for the quarter, compared to analysts’ expectations of $4.19 million. On average, equities research analysts anticipate that Omeros Corporation will post -0.94 EPS for the current fiscal year.

Institutional Trading of Omeros

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OMER. Vanguard Group Inc. grew its stake in shares of Omeros by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock valued at $68,929,000 after buying an additional 666,357 shares during the period. UBS Group AG lifted its position in shares of Omeros by 213.5% during the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock worth $38,180,000 after purchasing an additional 1,513,893 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Omeros by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,631,350 shares of the biopharmaceutical company’s stock valued at $28,026,000 after purchasing an additional 95,979 shares during the period. State Street Corp boosted its position in Omeros by 26.9% in the 4th quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock valued at $27,025,000 after buying an additional 333,798 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after purchasing an additional 263,095 shares during the last quarter. Hedge funds and other institutional investors 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.