Needham & Company LLC Reiterates Hold Rating for Omeros (NASDAQ:OMER)

Needham & Company LLC restated their hold rating on shares of Omeros (NASDAQ:OMER) in a report released on Thursday morning,Benzinga reports.

Several other analysts also recently issued reports on the company. StockNews.com downgraded Omeros from a “hold” rating to a “sell” rating in a report on Tuesday. Rodman & Renshaw started coverage on shares of Omeros in a research report on Thursday. They issued a “buy” rating and a $9.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.00.

Omeros Stock Down 2.9 %

Shares of OMER stock traded down $0.20 on Thursday, reaching $6.75. 1,803,967 shares of the stock were exchanged, compared to its average volume of 465,532. Omeros has a 1-year low of $1.38 and a 1-year high of $7.51. The stock has a market cap of $391.14 million, a P/E ratio of -2.89 and a beta of 1.47. The firm has a 50 day moving average of $4.08 and a two-hundred day moving average of $4.07.

Hedge Funds Weigh In On Omeros

Several large investors have recently modified their holdings of the stock. State Street Corp lifted its position in shares of Omeros by 0.3% during the third quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company’s stock worth $4,867,000 after purchasing an additional 3,839 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Omeros by 7.2% during the third quarter. HighTower Advisors LLC now owns 59,339 shares of the biopharmaceutical company’s stock worth $235,000 after purchasing an additional 4,000 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Omeros by 130.6% during the third quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 7,016 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Omeros by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company’s stock worth $1,926,000 after acquiring an additional 18,454 shares during the period. Finally, SPC Financial Inc. acquired a new stake in Omeros during the third quarter worth about $77,000. 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.