Omeros (NASDAQ:OMER) Sees Large Volume Increase – Still a Buy?

Omeros Corporation (NASDAQ:OMER) shares saw unusually-high trading volume on Friday . Approximately 1,266,324 shares changed hands during trading, a decline of 14% from the previous session’s volume of 1,474,020 shares.The stock last traded at $8.4990 and had previously closed at $10.18.

Analysts Set New Price Targets

OMER has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Omeros in a research note on Wednesday. Wall Street Zen downgraded shares of Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. D. Boral Capital reiterated a “buy” rating and set a $36.00 price target on shares of Omeros in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Omeros from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Omeros Stock Performance

The company’s 50 day moving average price is $12.25 and its 200 day moving average price is $11.88. The company has a market cap of $620.73 million, a price-to-earnings ratio of 12.16 and a beta of 2.52.

Omeros (NASDAQ:OMER) last issued its 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 firm had revenue of $9.89 million during the quarter, compared to analyst estimates of $4.19 million. As a group, analysts predict that Omeros Corporation will post -0.94 EPS for the current year.

Insider Buying and Selling at Omeros

In other news, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total transaction of $87,075.00. Following the completion of the sale, the director owned 35,067 shares of the company’s stock, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of Omeros in the fourth quarter valued at about $25,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Omeros in the second quarter valued at about $32,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Omeros in the fourth quarter valued at about $33,000. Assetmark Inc. bought a new position in shares of Omeros in the first quarter valued at about $38,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Omeros by 829.6% in the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 11,971 shares during the last quarter. 48.79% of the stock is owned by institutional investors.

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.