Omeros (NASDAQ:OMER) Trading Up 10.3% – Here’s What Happened

Shares of Omeros Co. (NASDAQ:OMER) were up 10.3% on Friday . The company traded as high as $10.92 and last traded at $10.85. Approximately 474,122 shares traded hands during trading, a decline of 11% from the average daily volume of 533,973 shares. The stock had previously closed at $9.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OMER shares. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a report on Thursday, December 19th. Rodman & Renshaw assumed coverage on shares of Omeros in a research note on Thursday, November 14th. They set a “buy” rating and a $9.00 price objective for the company. RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. Finally, StockNews.com raised Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Omeros Price Performance

The stock’s fifty day simple moving average is $8.18 and its 200-day simple moving average is $5.57. The firm has a market cap of $632.81 million, a PE ratio of -4.73 and a beta of 1.97.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Barclays PLC raised its position in Omeros by 121.3% during the third quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock valued at $376,000 after acquiring an additional 51,873 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Omeros by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,339,251 shares of the biopharmaceutical company’s stock valued at $5,318,000 after purchasing an additional 6,839 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of Omeros by 19.2% in the 3rd quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 3,000 shares during the period. Jane Street Group LLC boosted its holdings in Omeros by 15.9% during the third quarter. Jane Street Group LLC now owns 58,277 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 8,010 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Omeros during the third quarter valued at $305,000. 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.