Omeros (NASDAQ:OMER) Hits New 52-Week High – Here’s Why

Omeros Co. (NASDAQ:OMER)’s share price hit a new 52-week high during trading 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.

Wall Street Analysts Forecast Growth

OMER has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Omeros in a report on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. StockNews.com upgraded Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Rodman & Renshaw initiated coverage on Omeros in a research report on Thursday, November 14th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Omeros currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Omeros Stock Up 0.7 %

The stock has a market capitalization of $597.46 million, a price-to-earnings ratio of -4.46 and a beta of 1.97. The company’s 50-day moving average is $7.09 and its 200-day moving average is $5.19.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in Omeros by 130.6% in the third quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 7,016 shares during the period. MML Investors Services LLC increased its holdings in shares of Omeros by 19.2% in the 3rd quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 3,000 shares during the period. SPC Financial Inc. bought a new stake in Omeros in the 3rd quarter valued at about $77,000. SG Americas Securities LLC acquired a new position in Omeros during the 3rd quarter valued at about $80,000. Finally, AQR Capital Management LLC bought a new position in Omeros in the 2nd quarter worth about $105,000. 48.79% of the stock is owned by institutional investors and hedge funds.

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.