Omeros (NASDAQ:OMER) Reaches New 12-Month High – Still a Buy?

Omeros Co. (NASDAQ:OMER)’s share price reached a new 52-week high on Friday . The stock traded as high as $13.60 and last traded at $10.24, with a volume of 5997596 shares changing hands. The stock had previously closed at $7.46.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OMER shares. Needham & Company LLC restated a “hold” rating on shares of Omeros in a research note on Thursday, November 14th. RODMAN&RENSHAW raised Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Rodman & Renshaw started coverage on shares of Omeros in a research note on Thursday, November 14th. They set a “buy” rating and a $9.00 price target for the company. Finally, StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Omeros Price Performance

The firm has a market capitalization of $593.41 million, a PE ratio of -4.43 and a beta of 1.97. The company has a 50-day moving average price of $6.96 and a 200-day moving average price of $5.13.

Hedge Funds Weigh In On Omeros

Several institutional investors and hedge funds have recently bought and sold shares of OMER. Wellington Management Group LLP purchased a new stake in shares of Omeros during the 3rd quarter worth about $305,000. Barclays PLC lifted its position in Omeros by 121.3% during the third quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock valued at $376,000 after buying an additional 51,873 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Omeros by 16.6% during 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 period. AQR Capital Management LLC acquired a new stake in shares of Omeros in the second quarter worth $105,000. Finally, SG Americas Securities LLC purchased a new position in shares of Omeros in the 3rd 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.