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

Omeros Co. (NASDAQ:OMER) traded up 5.5% during mid-day trading on Thursday . The company 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.

Analysts Set New Price Targets

OMER has been the subject of several recent analyst reports. Rodman & Renshaw initiated coverage on shares of Omeros in a research note on Thursday, November 14th. They issued a “buy” rating and a $9.00 target price for the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. D. Boral Capital reiterated a “buy” rating and set a $36.00 target price on shares of Omeros in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Thursday, December 19th. Finally, StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Three 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 stock. According to data from MarketBeat, Omeros currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Omeros Trading Up 1.3 %

The firm has a market capitalization of $522.25 million, a PE ratio of -3.90 and a beta of 2.01. The firm has a 50-day moving average of $9.15 and a two-hundred day moving average of $5.94.

Hedge Funds Weigh In On Omeros

A number of large investors have recently modified their holdings of OMER. MML Investors Services LLC increased its position in Omeros by 19.2% during 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. State Street Corp increased its position 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 worth $4,867,000 after acquiring an additional 3,839 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Omeros by 7.2% in the 3rd quarter. HighTower Advisors LLC now owns 59,339 shares of the biopharmaceutical company’s stock valued at $235,000 after acquiring an additional 4,000 shares during the period. Rhumbline Advisers raised its stake in shares of Omeros by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock valued at $454,000 after acquiring an additional 6,435 shares during the period. Finally, Geode Capital Management LLC lifted 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 acquiring an additional 6,839 shares in the last quarter. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

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.