Omeros (NASDAQ:OMER) Shares Gap Up – Here’s Why

Omeros Corporation (NASDAQ:OMER) gapped up before the market opened on Friday . The stock had previously closed at $6.28, but opened at $6.64. Omeros shares last traded at $7.6830, with a volume of 2,217,045 shares changing hands.

Analyst Ratings Changes

OMER has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Omeros in a research report on Wednesday, October 8th. WBB Securities restated a “strong-buy” rating and issued a $45.00 price target on shares of Omeros in a report on Wednesday, October 15th. Wall Street Zen raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, HC Wainwright boosted their price target on Omeros from $9.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omeros currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

Omeros Stock Up 23.2%

The stock has a fifty day simple moving average of $5.71 and a 200-day simple moving average of $4.59. The company has a market capitalization of $526.75 million, a P/E ratio of -3.66 and a beta of 2.40.

Omeros (NASDAQ:OMER) last released its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.02. The firm had revenue of $28.60 million during the quarter, compared to analyst estimates of $0.31 million. Analysts predict that Omeros Corporation will post -3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Omeros

Institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. bought a new stake in Omeros during the 2nd quarter worth about $32,000. Harbour Investments Inc. raised its position in shares of Omeros by 46.1% during the second quarter. Harbour Investments Inc. now owns 13,469 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 4,251 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Omeros by 829.6% during the second quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 11,971 shares during the period. Sei Investments Co. bought a new position in shares of Omeros in the 2nd quarter valued at about $40,000. Finally, Russell Investments Group Ltd. grew its holdings in Omeros by 113.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,695 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 5,677 shares during the period. Institutional investors and hedge funds 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.