Omeros (NASDAQ:OMER) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of Omeros Corporation (NASDAQ:OMER) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.67 and traded as high as $9.80. Omeros shares last traded at $9.45, with a volume of 1,082,976 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OMER shares. HC Wainwright raised their price target on Omeros from $9.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. WBB Securities restated a “strong-buy” rating and set a $45.00 target price on shares of Omeros in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Omeros in a report on Wednesday, October 8th. Wall Street Zen cut shares of Omeros from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, D. Boral Capital restated a “buy” rating and issued a $36.00 price target on shares of Omeros in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Omeros currently has a consensus rating of “Moderate Buy” and an average price target of $33.67.

Omeros Stock Up 1.9%

The company has a market cap of $682.77 million, a P/E ratio of -4.56 and a beta of 2.40. The firm’s 50 day moving average is $6.66 and its two-hundred day moving average is $4.74.

Omeros (NASDAQ:OMER) last issued its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.39. As a group, research analysts forecast that Omeros Corporation will post -3.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Omeros

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Omeros by 1,201.1% in the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock valued at $1,706,000 after purchasing an additional 384,168 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Omeros by 39.3% during the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after purchasing an additional 263,095 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Omeros in the 1st quarter worth approximately $1,118,000. Millennium Management LLC boosted its position in Omeros by 49.1% in the third quarter. Millennium Management LLC now owns 401,814 shares of the biopharmaceutical company’s stock worth $1,647,000 after purchasing an additional 132,393 shares during the last quarter. Finally, Nuveen LLC bought a new position in Omeros during the first quarter valued at about $938,000. 48.79% of the stock is currently owned by institutional investors.

About Omeros

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.