Omeros (NASDAQ:OMER) Shares Up 4.6% – Time to Buy?

Omeros Corporation (NASDAQ:OMER) shot up 4.6% during trading on Tuesday . The company traded as high as $17.17 and last traded at $17.3350. 1,336,446 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 1,758,229 shares. The stock had previously closed at $16.57.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OMER. D. Boral Capital reiterated a “buy” rating and set a $36.00 price objective on shares of Omeros in a research report on Wednesday, December 24th. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Omeros in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating on shares of Omeros in a report on Wednesday, December 24th. Finally, WBB Securities restated a “strong-buy” rating and set a $45.00 price objective on shares of Omeros in a research report on Wednesday, October 15th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Omeros Stock Performance

The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -8.46 and a beta of 2.48. The firm’s 50 day moving average is $9.23 and its 200-day moving average is $5.93.

Omeros (NASDAQ:OMER) last announced its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.39. As a group, research analysts predict that Omeros Corporation will post -3.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Corton Capital Inc. acquired a new position in shares of Omeros during the second quarter worth approximately $117,000. Hsbc Holdings PLC bought a new stake in Omeros in the 1st quarter valued at $142,000. Newbridge Financial Services Group Inc. bought a new position in shares of Omeros during the 2nd quarter worth about $280,000. Nuveen LLC acquired a new position in shares of Omeros during the first quarter valued at about $938,000. Finally, Invesco Ltd. grew its holdings in shares of Omeros by 169.1% during the 1st quarter. Invesco Ltd. now owns 87,044 shares of the biopharmaceutical company’s stock worth $716,000 after purchasing an additional 54,696 shares in the last quarter. Institutional investors and hedge funds own 48.79% of the company’s stock.

Omeros Company Profile

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.