Omeros (NASDAQ:OMER) Shares Gap Up - Should You Buy?

Shares of Omeros Co. (NASDAQ:OMER - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $9.74, but opened at $10.12. Omeros shares last traded at $9.85, with a volume of 136,338 shares.

Wall Street Analysts Forecast Growth

OMER has been the subject of several research analyst reports. Rodman & Renshaw initiated coverage on shares of Omeros in a report on Thursday, November 14th. They issued a "buy" rating and a $9.00 price target for the company. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Omeros in a research note on Thursday, November 14th. RODMAN&RENSHAW raised Omeros to a "strong-buy" rating in a research note on Thursday, November 14th. D. Boral Capital started coverage on Omeros in a report on Monday, December 23rd. They issued a "buy" rating and a $36.00 price target on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Omeros in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.50.

Omeros Price Performance

The business's 50-day moving average is $7.84 and its two-hundred day moving average is $5.47. The firm has a market cap of $572.55 million, a P/E ratio of -4.28 and a beta of 1.97.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Omeros by 121.3% in the 3rd quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company's stock valued at $376,000 after buying an additional 51,873 shares during the last quarter. Geode Capital Management LLC raised its position in Omeros by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,339,251 shares of the biopharmaceutical company's stock worth $5,318,000 after acquiring an additional 6,839 shares in the last quarter. MML Investors Services LLC lifted its stake 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 acquiring an additional 3,000 shares during the last quarter. Jane Street Group LLC lifted its stake in Omeros by 15.9% in the 3rd quarter. Jane Street Group LLC now owns 58,277 shares of the biopharmaceutical company's stock valued at $231,000 after purchasing an additional 8,010 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Omeros during the third quarter worth approximately $305,000. 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.