Omeros (NASDAQ:OMER) Trading Down 5.8% After Insider Selling

Omeros Corporation (NASDAQ:OMER) shares dropped 5.8% on Thursday following insider selling activity. The stock traded as low as $12.42 and last traded at $12.3160. Approximately 244,474 shares traded hands during trading, a decline of 93% from the average daily volume of 3,314,114 shares. The stock had previously closed at $13.08.

Specifically, CAO David J. Borges sold 30,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $12.31, for a total value of $369,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of research analysts recently commented on OMER shares. Wall Street Zen lowered shares of Omeros from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. WBB Securities restated a “strong-buy” rating and set a $45.00 price objective on shares of Omeros in a report on Wednesday, October 15th. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 target price on shares of Omeros in a research report on Thursday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a research note on Wednesday, October 15th. Finally, HC Wainwright boosted their price target on Omeros from $20.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Omeros Stock Down 6.7%

The company’s fifty day moving average price is $11.05 and its 200 day moving average price is $6.90. The company has a market capitalization of $865.69 million, a P/E ratio of -6.04 and a beta of 2.38.

Omeros (NASDAQ:OMER) last issued its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.39. Research analysts predict that Omeros Corporation will post -3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OMER. Wealth Enhancement Advisory Services LLC lifted its position in Omeros by 9.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,728 shares of the biopharmaceutical company’s stock worth $545,000 after purchasing an additional 2,631 shares during the period. JPMorgan Chase & Co. increased its holdings in Omeros by 1,201.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock valued at $1,706,000 after buying an additional 384,168 shares during the period. Millennium Management LLC raised its position in shares of Omeros by 49.1% in the 3rd quarter. Millennium Management LLC now owns 401,814 shares of the biopharmaceutical company’s stock valued at $1,647,000 after buying an additional 132,393 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in shares of Omeros by 22.9% during the 3rd quarter. Brevan Howard Capital Management LP now owns 129,393 shares of the biopharmaceutical company’s stock worth $531,000 after acquiring an additional 24,094 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Omeros by 39.3% during the 3rd 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 in the last quarter. 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.