Omeros (NASDAQ:OMER) Shares Up 9.2% – Time to Buy?

Omeros Co. (NASDAQ:OMER)’s stock price shot up 9.2% on Wednesday . The company traded as high as $8.74 and last traded at $8.64. 291,193 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 544,800 shares. The stock had previously closed at $7.91.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research report on Tuesday. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Omeros in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Omeros in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Omeros presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Omeros Stock Up 5.7 %

The stock has a 50-day simple moving average of $8.64 and a two-hundred day simple moving average of $7.61. The firm has a market cap of $484.46 million, a PE ratio of -3.62 and a beta of 2.03.

Institutional Investors Weigh In On Omeros

Several institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC increased its stake in shares of Omeros by 116.5% during the fourth quarter. Truvestments Capital LLC now owns 3,102 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 1,669 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Omeros by 79.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,467 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 1,972 shares in the last quarter. Quantbot Technologies LP bought a new position in Omeros in the 4th quarter worth $46,000. BNP Paribas Financial Markets boosted its stake in shares of Omeros by 130.6% during 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. Finally, Picton Mahoney Asset Management raised its stake in Omeros by 692.5% in the fourth quarter. Picton Mahoney Asset Management now owns 5,040 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 4,404 shares in the last quarter. Hedge funds and other institutional investors 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.