Omeros (NASDAQ:OMER) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Omeros Corporation (NASDAQ:OMER) 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.

Wall Street Analyst Weigh In

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

Omeros Price Performance

The business’s fifty day moving average is $12.18 and its 200-day moving average is $11.86. The firm has a market cap of $631.88 million, a PE ratio of 12.47 and a beta of 2.52.

Omeros (NASDAQ:OMER) last posted its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (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. Analysts forecast that Omeros Corporation will post -0.94 EPS for the current year.

Insider Transactions at Omeros

In related news, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction dated 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 in the company, 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. Company insiders own 12.90% of the company’s stock.

Institutional Trading of Omeros

A number of large investors have recently added to or reduced their stakes in OMER. UBS Group AG increased its stake in shares of Omeros by 213.5% in 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. Vanguard Group Inc. increased its stake in shares of Omeros by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after purchasing an additional 666,357 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Omeros by 1,201.1% in the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock worth $1,706,000 after purchasing an additional 384,168 shares in the last quarter. State Street Corp increased its stake in shares of Omeros by 26.9% in the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock worth $27,025,000 after purchasing an additional 333,798 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after purchasing an additional 263,095 shares in 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.