Omeros (NASDAQ:OMER) Shares Up 3.6% – Here’s Why

Omeros Co. (NASDAQ:OMER)’s stock price traded up 3.6% during mid-day trading on Friday . The company traded as high as $11.06 and last traded at $10.84. 32,943 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 549,230 shares. The stock had previously closed at $10.46.

Wall Street Analysts Forecast Growth

OMER has been the subject of several recent research reports. Cantor Fitzgerald reissued a “neutral” rating on shares of Omeros in a research note on Thursday, November 14th. StockNews.com upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Rodman & Renshaw started coverage on shares of Omeros in a research note on Thursday, November 14th. They issued a “buy” rating and a $9.00 target price on the stock. D. Boral Capital initiated coverage on Omeros in a report on Monday, December 23rd. They issued a “buy” rating and a $36.00 price target for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Omeros in a research note on Thursday, December 19th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Omeros Stock Performance

The stock has a market cap of $676.86 million, a PE ratio of -5.06 and a beta of 1.96. The company’s 50-day moving average price is $7.73 and its 200 day moving average price is $5.42.

Institutional Investors Weigh In On Omeros

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Omeros by 16.6% during the second quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company’s stock worth $887,000 after purchasing an additional 31,081 shares in the last quarter. Rhumbline Advisers grew its position in Omeros by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock valued at $454,000 after acquiring an additional 6,435 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Omeros during the second quarter worth about $105,000. SG Americas Securities LLC purchased a new position in shares of Omeros in the third quarter valued at approximately $80,000. Finally, SPC Financial Inc. acquired a new position in shares of Omeros in the third quarter valued at approximately $77,000. 48.79% of the stock is currently owned by institutional investors and hedge funds.

About Omeros

Omeros Corporation, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting immunologic diseases, including complement-mediated diseases, cancers, and addictive and compulsive disorders. The company’s products under development include Narsoplimab (OMS721/MASP-2) that has completed pivotal trial for hematopoietic stem-cell transplant-associated thrombotic microangiopathy (TA-TMA); that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy (IgAN); and Phase II clinical trial to treat COVID-19.