Omeros (NASDAQ:OMER) Shares Gap Up – Should You Buy?

Omeros Co. (NASDAQ:OMER)’s share price 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.

Analyst Ratings Changes

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

Omeros Stock Up 75.9 %

The firm has a market capitalization of $760.30 million, a PE ratio of -5.68 and a beta of 1.97. The stock has a 50-day moving average price of $6.83 and a 200 day moving average price of $5.10.

Institutional Trading of Omeros

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP purchased a new stake in Omeros in the 3rd quarter valued at $305,000. Barclays PLC raised its stake in Omeros by 121.3% during the third quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 51,873 shares during the period. Bank of New York Mellon Corp raised its position in shares of Omeros by 16.6% during the 2nd 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 period. AQR Capital Management LLC acquired a new stake in Omeros during the second quarter worth $105,000. Finally, SG Americas Securities LLC purchased a new stake in Omeros in the third quarter valued at $80,000. 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.