Omeros (NASDAQ:OMER) Shares Gap Up – Time to Buy?

Omeros Co. (NASDAQ:OMER) shares gapped up before the market opened on Tuesday . The stock had previously closed at $9.74, but opened at $10.12. Omeros shares last traded at $9.85, with a volume of 136,338 shares changing hands.

Analysts Set New Price Targets

OMER has been the topic of a number of research analyst reports. Rodman & Renshaw began 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. Cantor Fitzgerald restated a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. RODMAN&RENSHAW raised Omeros to a “strong-buy” rating in a research report on Thursday, November 14th. StockNews.com raised Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Omeros Trading Up 1.4 %

The stock has a market capitalization of $572.55 million, a P/E ratio of -4.28 and a beta of 1.97. The company has a 50-day moving average price of $8.07 and a 200 day moving average price of $5.54.

Institutional Investors Weigh In On Omeros

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in Omeros by 130.6% in the third quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 7,016 shares during the last quarter. MML Investors Services LLC boosted its position 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 worth $74,000 after purchasing an additional 3,000 shares in the last quarter. SPC Financial Inc. purchased a new position in Omeros during the 3rd quarter worth $77,000. SG Americas Securities LLC acquired a new position in Omeros during the 3rd quarter valued at about $80,000. Finally, AQR Capital Management LLC acquired a new stake in Omeros in the second quarter worth about $105,000. Hedge funds and other institutional investors own 48.79% of the company’s stock.

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.