Omeros (NASDAQ:OMER) Shares Gap Down – Should You Sell?

Omeros Corporation (NASDAQ:OMER) shares gapped down prior to trading on Friday. The stock had previously closed at $18.79, but opened at $17.94. Omeros shares last traded at $16.0010, with a volume of 695,394 shares changing hands.

Wall Street Analysts Forecast Growth

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

Omeros Stock Performance

The stock has a 50-day moving average of $18.35 and a 200-day moving average of $13.84. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 12.64 and a beta of 2.57.

Omeros (NASDAQ:OMER) last released its earnings results on Wednesday, August 12th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.29. The firm had revenue of $28.53 million during the quarter, compared to the consensus estimate of $12.69 million. Sell-side analysts predict that Omeros Corporation will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Omeros

In other news, VP Peter B. Cancelmo sold 25,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $18.54, for a total value of $463,500.00. Following the sale, the vice president owned 200 shares of the company’s stock, valued at $3,708. The trade was a 99.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David J. Borges sold 10,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $18.95, for a total transaction of $189,500.00. Following the transaction, the chief accounting officer owned 5,906 shares of the company’s stock, valued at $111,918.70. The trade was a 62.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 105,906 shares of company stock valued at $1,989,705 over the last quarter. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in Omeros by 16.0% during the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 800 shares in the last quarter. GK Wealth Management LLC acquired a new position in shares of Omeros during the 3rd quarter worth about $65,000. Assetmark Inc. acquired a new position in shares of Omeros during the 1st quarter worth about $38,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Omeros by 4.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 92,403 shares of the biopharmaceutical company’s stock valued at $879,000 after acquiring an additional 3,835 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Omeros by 4.3% in the 2nd quarter. HighTower Advisors LLC now owns 115,368 shares of the biopharmaceutical company’s stock valued at $1,097,000 after acquiring an additional 4,738 shares in the last quarter. 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.