Omeros (NASDAQ:OMER) Trading Up 7.8% – Should You Buy?

Shares of Omeros Co. (NASDAQ:OMER) traded up 7.8% during mid-day trading on Friday . The stock traded as high as $11.99 and last traded at $11.97. 162,021 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 508,536 shares. The stock had previously closed at $11.10.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a report on Thursday, November 14th. StockNews.com upgraded Omeros from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Rodman & Renshaw initiated coverage on Omeros in a report on Thursday, November 14th. They set a “buy” rating and a $9.00 target price on the stock. RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to 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 stock has a market cap of $672.80 million, a PE ratio of -5.03 and a beta of 1.97. The company’s 50-day moving average price is $6.05 and its 200 day moving average price is $4.80.

Institutional Trading of Omeros

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Omeros by 2.6% during 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. Geode Capital Management LLC raised its position 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 valued at $5,318,000 after buying an additional 6,839 shares during the period. State Street Corp raised its position in shares of Omeros by 0.3% during the 3rd 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. Charles Schwab Investment Management Inc. raised its position in shares of Omeros by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company’s stock valued at $1,926,000 after buying an additional 18,454 shares during the period. Finally, Bank of New York Mellon Corp raised its position 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 purchasing an additional 31,081 shares during the period. Hedge funds and other 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.