Omeros (NASDAQ:OMER) Shares Gap Up – Still a Buy?

Shares of Omeros Co. (NASDAQ:OMER) gapped up before the market opened on Thursday . The stock had previously closed at $7.46, but opened at $9.71. Omeros shares last traded at $10.97, with a volume of 745,732 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Rodman & Renshaw initiated coverage on shares of Omeros in a research report on Thursday, November 14th. They set a “buy” rating and a $9.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Thursday, November 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros in a research note on Thursday, November 14th. StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Omeros has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Omeros Trading Up 75.9 %

The stock has a market cap of $760.30 million, a PE ratio of -5.68 and a beta of 1.97. The business has a 50 day moving average of $6.83 and a 200-day moving average of $5.10.

Institutional Investors Weigh In On Omeros

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cypress Capital Group lifted its holdings in Omeros by 40.0% in the 2nd quarter. Cypress Capital Group now owns 35,000 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Omeros by 16.6% during the second quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company’s stock worth $887,000 after acquiring an additional 31,081 shares during the last quarter. Rhumbline Advisers grew its stake in Omeros by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock worth $454,000 after acquiring an additional 6,435 shares during the period. AQR Capital Management LLC acquired a new position in Omeros in the 2nd quarter valued at $105,000. Finally, SG Americas Securities LLC purchased a new position in shares of Omeros during the 3rd quarter worth $80,000. Institutional investors and hedge funds 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.