Omeros (NASDAQ:OMER) Trading Up 5.5% – Here’s What Happened

Omeros Co. (NASDAQ:OMER)’s stock price shot up 5.5% on Thursday . The stock traded as high as $9.49 and last traded at $9.39. 200,332 shares traded hands during trading, a decline of 68% from the average session volume of 617,175 shares. The stock had previously closed at $8.90.

Wall Street Analysts Forecast Growth

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

Omeros Trading Up 1.6 %

The stock has a market capitalization of $540.67 million, a P/E ratio of -4.04 and a beta of 2.01. The company has a 50-day moving average price of $9.35 and a 200 day moving average price of $6.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OMER. Geode Capital Management LLC increased its position in shares of Omeros by 0.5% during the third 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 increased its position in Omeros by 0.3% during the 3rd quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company’s stock valued at $4,867,000 after buying an additional 3,839 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 buying an additional 18,454 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Omeros by 16.6% in the second quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company’s stock worth $887,000 after acquiring an additional 31,081 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of 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 last quarter. 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.