Omeros (NASDAQ:OMER) Stock Price Up 8.2% – Here’s Why

Omeros Corporation (NASDAQ:OMER) rose 8.2% during mid-day trading on Wednesday . The stock traded as high as $10.28 and last traded at $10.2050. Approximately 843,103 shares were traded during trading, a decline of 48% from the average daily volume of 1,626,645 shares. The stock had previously closed at $9.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OMER shares. Wall Street Zen downgraded Omeros from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. WBB Securities reissued a “strong-buy” rating and set a $45.00 price objective on shares of Omeros in a research note on Wednesday, October 15th. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 target price on shares of Omeros in a research note on Monday. Needham & Company LLC restated a “hold” rating on shares of Omeros in a research report on Wednesday, October 15th. Finally, HC Wainwright increased their target price on shares of Omeros from $9.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

Omeros Trading Down 1.6%

The stock has a market cap of $769.27 million, a P/E ratio of -5.37 and a beta of 2.48. The business’s 50 day moving average price is $7.25 and its two-hundred day moving average price is $4.95.

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

Hedge Funds Weigh In On Omeros

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMER. Millennium Management LLC boosted its holdings in shares of Omeros by 49.1% during the 3rd quarter. Millennium Management LLC now owns 401,814 shares of the biopharmaceutical company’s stock valued at $1,647,000 after buying an additional 132,393 shares in the last quarter. Brevan Howard Capital Management LP grew its holdings in Omeros by 22.9% in the third quarter. Brevan Howard Capital Management LP now owns 129,393 shares of the biopharmaceutical company’s stock worth $531,000 after purchasing an additional 24,094 shares during the period. Two Sigma Investments LP increased its stake 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. Bridgeway Capital Management LLC raised its stake in Omeros by 78.8% during the third quarter. Bridgeway Capital Management LLC now owns 56,715 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 25,000 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Omeros by 75.8% in the third quarter. Squarepoint Ops LLC now owns 155,496 shares of the biopharmaceutical company’s stock worth $638,000 after acquiring an additional 67,021 shares during the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

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.