Omeros (NASDAQ:OMER) Sets New 12-Month High – What’s Next?

Shares of Omeros Co. (NASDAQ:OMER) reached a new 52-week high during trading on Friday . The stock traded as high as $8.99 and last traded at $8.90, with a volume of 410277 shares trading hands. The stock had previously closed at $7.73.

Analyst Upgrades and Downgrades

OMER has been the subject of several analyst reports. StockNews.com upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research note on Wednesday. Rodman & Renshaw began coverage on shares of Omeros in a research report on Thursday, November 14th. They issued a “buy” rating and a $9.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Omeros in a research report on Thursday, November 14th. RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. Three research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.00.

Omeros Price Performance

The firm’s 50-day simple moving average is $4.50 and its 200 day simple moving average is $4.23. The firm has a market capitalization of $632.23 million, a price-to-earnings ratio of -4.72 and a beta of 1.47.

Hedge Funds Weigh In On Omeros

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake in shares of Omeros by 130.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 7,016 shares during the last quarter. MML Investors Services LLC raised its position in Omeros by 19.2% in the third quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 3,000 shares during the last quarter. SPC Financial Inc. acquired a new stake in shares of Omeros during the third quarter valued at about $77,000. SG Americas Securities LLC bought a new stake in shares of Omeros during the third quarter worth about $80,000. Finally, AQR Capital Management LLC acquired a new position in shares of Omeros in the second quarter valued at approximately $105,000. 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.