Omeros (NASDAQ:OMER) Shares Gap Up – What’s Next?

Omeros Co. (NASDAQ:OMER) shares gapped up before the market opened on Thursday . The stock had previously closed at $7.46, but opened at $9.71. Omeros shares last traded at $10.97, with a volume of 745,732 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a research note on Thursday, November 14th. RODMAN&RENSHAW raised shares of Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Omeros in a research note on Thursday. StockNews.com upgraded Omeros from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Rodman & Renshaw assumed coverage on Omeros in a report on Thursday, November 14th. They issued a “buy” rating and a $9.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Omeros Stock Performance

The business’s 50 day moving average is $7.09 and its 200 day moving average is $5.18. The company has a market capitalization of $597.46 million, a price-to-earnings ratio of -4.46 and a beta of 1.97.

Institutional Investors Weigh In On Omeros

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OMER. MML Investors Services LLC lifted its holdings in Omeros by 19.2% in the third quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 3,000 shares during the period. State Street Corp grew its position in Omeros by 0.3% during the third quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company’s stock valued at $4,867,000 after buying an additional 3,839 shares during the period. HighTower Advisors LLC raised its position in shares of Omeros by 7.2% in the third quarter. HighTower Advisors LLC now owns 59,339 shares of the biopharmaceutical company’s stock worth $235,000 after acquiring an additional 4,000 shares during the period. Rhumbline Advisers raised its position in shares of Omeros by 6.1% in the second quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock worth $454,000 after acquiring an additional 6,435 shares during the period. Finally, Geode Capital Management LLC boosted its stake 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 worth $5,318,000 after acquiring an additional 6,839 shares in the last quarter. 48.79% of the stock is owned by institutional investors and hedge funds.

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.