Omeros (NASDAQ:OMER) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Omeros Corporation (NASDAQ:OMER)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.21 and traded as high as $12.50. Omeros shares last traded at $12.15, with a volume of 2,065,272 shares changing hands.

Analyst Ratings Changes

OMER has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a report on Wednesday, October 15th. HC Wainwright increased their target price on shares of Omeros from $20.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Omeros in a research report on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and issued a $36.00 price target on shares of Omeros in a report on Thursday, January 8th. Finally, Wall Street Zen downgraded Omeros from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Omeros Price Performance

The firm’s 50-day moving average price is $11.59 and its 200 day moving average price is $7.21. The firm has a market capitalization of $861.44 million, a price-to-earnings ratio of -6.01 and a beta of 2.38.

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

Insider Activity at Omeros

In related news, CAO David J. Borges sold 30,000 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $12.31, for a total transaction of $369,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Omeros

Several hedge funds have recently modified their holdings of OMER. Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 buying an additional 2,631 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Omeros by 1,201.1% during the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock worth $1,706,000 after acquiring an additional 384,168 shares during the last quarter. Millennium Management LLC grew its stake in Omeros by 49.1% in the 3rd quarter. Millennium Management LLC now owns 401,814 shares of the biopharmaceutical company’s stock worth $1,647,000 after acquiring an additional 132,393 shares during the period. Brevan Howard Capital Management LP grew its stake in Omeros by 22.9% in 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 raised its holdings in Omeros by 39.3% in the 3rd quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after acquiring an additional 263,095 shares during the last quarter. 48.79% of the stock is owned by institutional investors and hedge funds.

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.