Omeros (NASDAQ:OMER) Shares Gap Up – Here’s Why

Omeros Co. (NASDAQ:OMER) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.74, but opened at $10.12. Omeros shares last traded at $9.85, with a volume of 136,338 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a research report on Thursday, December 19th. Rodman & Renshaw initiated coverage on Omeros in a research note on Thursday, November 14th. They set a “buy” rating and a $9.00 target price for the company. RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Omeros Stock Performance

The company has a 50 day simple moving average of $8.07 and a 200 day simple moving average of $5.54. The company has a market capitalization of $572.55 million, a PE ratio of -4.28 and a beta of 1.97.

Institutional Trading of Omeros

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in Omeros by 130.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 7,016 shares in the last quarter. MML Investors Services LLC raised its position in shares of 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 buying an additional 3,000 shares during the last quarter. SPC Financial Inc. purchased a new position in shares of Omeros in the third quarter worth about $77,000. SG Americas Securities LLC acquired a new position in Omeros during the third quarter worth about $80,000. Finally, AQR Capital Management LLC purchased a new stake in Omeros during the 2nd quarter valued at about $105,000. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

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.