Omeros (NASDAQ:OMER) Sets New 12-Month High - Still a Buy?

Shares of Omeros Co. (NASDAQ:OMER - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.60 and last traded at $10.24, with a volume of 5997596 shares. The stock had previously closed at $7.46.

Wall Street Analyst Weigh In

OMER has been the topic of a number of recent analyst reports. StockNews.com raised Omeros from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Rodman & Renshaw assumed coverage on shares of Omeros in a report on Thursday, November 14th. They issued a "buy" rating and a $9.00 price target on the stock. Cantor Fitzgerald reissued a "neutral" rating on shares of Omeros in a report on Thursday, November 14th. RODMAN&RENSHAW upgraded shares of Omeros to a "strong-buy" rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Omeros in a research note on Thursday. Three research 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. According to data from MarketBeat, the company presently has an average 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 P/E ratio of -4.46 and a beta of 1.97. The company has a 50 day moving average of $6.96 and a 200-day moving average of $5.13.

Institutional Investors Weigh In On Omeros

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in Omeros by 130.6% in the third 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 period. MML Investors Services LLC lifted 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 purchasing an additional 3,000 shares during the last quarter. SPC Financial Inc. acquired a new position in Omeros during the 3rd quarter valued at approximately $77,000. SG Americas Securities LLC bought a new position in Omeros during the 3rd quarter worth $80,000. Finally, AQR Capital Management LLC acquired a new stake in Omeros in the second quarter worth $105,000. Institutional investors and hedge funds 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.