Omeros (NASDAQ:OMER) Trading Down 6.4% – Should You Sell?

Shares of Omeros Co. (NASDAQ:OMER) were down 6.4% on Wednesday . The stock traded as low as $9.78 and last traded at $9.87. Approximately 356,234 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 510,408 shares. The stock had previously closed at $10.54.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OMER shares. Rodman & Renshaw assumed coverage on shares of Omeros in a report on Thursday, November 14th. They issued a “buy” rating and a $9.00 price objective for the company. RODMAN&RENSHAW raised shares of Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Omeros in a report on Thursday, November 14th. Cantor Fitzgerald reissued a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Finally, StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Omeros Stock Down 14.5 %

The company has a market capitalization of $522.13 million, a PE ratio of -3.97 and a beta of 1.97. The business’s 50 day simple moving average is $6.20 and its 200 day simple moving average is $4.86.

Hedge Funds Weigh In On Omeros

A number of large investors have recently made changes to their positions in OMER. Vanguard Group Inc. increased 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 purchasing an additional 81,348 shares during the period. Comerica Bank increased 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 valued at $104,000 after purchasing an additional 5,000 shares during the period. Cypress Capital Group increased its holdings in Omeros by 40.0% in the second 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. Bank of New York Mellon Corp increased its holdings 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 worth $887,000 after buying an additional 31,081 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in 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 buying an additional 6,435 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.