Omeros (NASDAQ:OMER) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Omeros Corporation (NASDAQ:OMER) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.58 and traded as high as $7.35. Omeros shares last traded at $7.17, with a volume of 1,351,884 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OMER. HC Wainwright increased their price target on shares of Omeros from $9.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Omeros in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. WBB Securities reiterated a “strong-buy” rating and set a $45.00 price target on shares of Omeros in a research report on Wednesday, October 15th. Finally, D. Boral Capital reiterated a “buy” rating and set a $36.00 price target on shares of Omeros in a research report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Omeros Price Performance

The stock has a market cap of $487.96 million, a PE ratio of -3.40 and a beta of 2.32. The business has a 50 day moving average price of $5.32 and a two-hundred day moving average price of $4.58.

Omeros (NASDAQ:OMER) last released its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.02. The company had revenue of $28.60 million for the quarter, compared to analysts’ expectations of $0.31 million. On average, sell-side analysts forecast that Omeros Corporation will post -3.09 earnings per share for the current fiscal year.

Institutional Trading of Omeros

A number of institutional investors have recently made changes to their positions in OMER. Bank of New York Mellon Corp boosted its stake in shares of Omeros by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 151,062 shares of the biopharmaceutical company’s stock valued at $1,242,000 after purchasing an additional 3,321 shares during the period. Harbour Investments Inc. lifted its stake in Omeros by 51.9% in the first quarter. Harbour Investments Inc. now owns 9,218 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 3,149 shares during the period. Vanguard Group Inc. lifted its stake in Omeros by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,237,256 shares of the biopharmaceutical company’s stock worth $26,610,000 after acquiring an additional 95,599 shares during the period. Deutsche Bank AG lifted its stake in Omeros by 4.9% in the first quarter. Deutsche Bank AG now owns 42,019 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 1,973 shares during the period. Finally, Invesco Ltd. lifted its stake in Omeros by 169.1% in the first quarter. Invesco Ltd. now owns 87,044 shares of the biopharmaceutical company’s stock worth $716,000 after acquiring an additional 54,696 shares during the period. Hedge funds and other institutional investors own 48.79% of the company’s stock.

Omeros Company Profile

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.