Omeros (NASDAQ:OMER) Hits New 1-Year High - Here's What Happened

Omeros Co. (NASDAQ:OMER - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $8.99 and last traded at $8.90, with a volume of 410277 shares traded. The stock had previously closed at $7.73.

Analysts Set New Price Targets

OMER has been the subject of several analyst reports. Rodman & Renshaw assumed coverage on shares of Omeros in a report on Thursday, November 14th. They set 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 report on Thursday, November 14th. RODMAN&RENSHAW raised shares of Omeros to a "strong-buy" rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of Omeros from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of Omeros in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

Omeros Trading Up 22.5 %

The firm has a market cap of $548.79 million, a price-to-earnings ratio of -3.85 and a beta of 1.47. The firm has a 50 day moving average price of $4.37 and a 200-day moving average price of $4.18.

Hedge Funds Weigh In On Omeros

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in Omeros by 75.5% in the 1st quarter. BNP Paribas Financial Markets now owns 30,102 shares of the biopharmaceutical company's stock valued at $104,000 after purchasing an additional 12,951 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Omeros by 2.6% during the first quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company's stock worth $11,213,000 after purchasing an additional 81,348 shares during the last quarter. Comerica Bank grew its position in shares of Omeros by 20.0% in the first quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company's stock valued at $104,000 after purchasing an additional 5,000 shares during the period. Cypress Capital Group lifted its position in Omeros by 40.0% during the second quarter. Cypress Capital Group now owns 35,000 shares of the biopharmaceutical company's stock worth $142,000 after buying an additional 10,000 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Omeros by 16.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company's stock valued at $887,000 after buying an additional 31,081 shares during the period. 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.

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