Omeros (NASDAQ:OMER) Reaches New 1-Year High – Here’s Why

Omeros Co. (NASDAQ:OMER) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $8.99 and last traded at $8.90, with a volume of 410277 shares traded. The stock had previously closed at $7.73.

Analyst Upgrades and Downgrades

OMER has been the subject of several recent research reports. StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Omeros in a research report on Thursday, November 14th. RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reissued a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. Finally, Rodman & Renshaw initiated coverage on shares of Omeros in a research report on Thursday, November 14th. They issued a “buy” rating and a $9.00 price objective for the company. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Omeros Price Performance

The firm has a market capitalization of $548.79 million, a PE ratio of -3.85 and a beta of 1.47. The stock has a 50-day moving average price of $4.37 and a 200-day moving average price of $4.18.

Institutional Trading of Omeros

A number of hedge funds have recently made changes to their positions in OMER. BNP Paribas Financial Markets increased its holdings in Omeros by 75.5% in the first quarter. BNP Paribas Financial Markets now owns 30,102 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 12,951 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Omeros by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company’s stock valued at $11,213,000 after buying an additional 81,348 shares during the period. Comerica Bank lifted its holdings in shares of Omeros by 20.0% in the 1st quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 5,000 shares during the last quarter. Cypress Capital Group grew its stake in Omeros by 40.0% during the 2nd quarter. Cypress Capital Group now owns 35,000 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 10,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 valued at $887,000 after buying an additional 31,081 shares during the last quarter. 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.