Omeros (NASDAQ:OMER) Trading 10.3% Higher – Time to Buy?

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

Wall Street Analysts Forecast Growth

OMER has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Omeros in a research report on Thursday, December 19th. RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a report on Thursday, November 14th. D. Boral Capital initiated coverage on Omeros in a research report on Monday, December 23rd. They set a “buy” rating and a $36.00 target price on the stock. StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Omeros presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Omeros Price Performance

The company has a market cap of $649.62 million, a P/E ratio of -4.85 and a beta of 1.97. The stock has a fifty day moving average price of $8.32 and a two-hundred day moving average price of $5.62.

Institutional Trading of Omeros

Several institutional investors and hedge funds have recently made changes to their positions in OMER. Geode Capital Management LLC grew its position in Omeros by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,339,251 shares of the biopharmaceutical company’s stock worth $5,318,000 after purchasing an additional 6,839 shares in the last quarter. State Street Corp grew its holdings in shares of Omeros by 0.3% in the third quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company’s stock valued at $4,867,000 after acquiring an additional 3,839 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Omeros by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company’s stock valued at $1,926,000 after acquiring an additional 18,454 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 valued at $887,000 after acquiring an additional 31,081 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Omeros by 6.1% during the second quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock worth $454,000 after acquiring an additional 6,435 shares during the period. 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.