Omeros (NASDAQ:OMER) Trading 9.2% Higher - Here's Why

Omeros Co. (NASDAQ:OMER - Get Free Report) shares were up 9.2% on Wednesday . The company traded as high as $8.74 and last traded at $8.64. Approximately 291,193 shares were traded during trading, a decline of 47% from the average daily volume of 544,800 shares. The stock had previously closed at $7.91.

Wall Street Analyst Weigh In

OMER has been the subject of several analyst reports. D. Boral Capital reiterated a "buy" rating and set a $36.00 price objective on shares of Omeros in a research report on Tuesday, April 1st. Needham & Company LLC reiterated a "hold" rating on shares of Omeros in a research report on Tuesday, April 1st. Finally, StockNews.com raised Omeros from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Omeros Stock Down 2.2 %

The firm has a market cap of $400.93 million, a price-to-earnings ratio of -2.99 and a beta of 2.35. The stock's 50 day moving average is $8.56 and its 200 day moving average is $7.68.

Omeros (NASDAQ:OMER - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.08. During the same period last year, the firm earned ($0.15) EPS. Analysts anticipate that Omeros Co. will post -3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC lifted its holdings in Omeros by 116.5% in the 4th quarter. Truvestments Capital LLC now owns 3,102 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 1,669 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Omeros by 79.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,467 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 1,972 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Omeros during the fourth quarter valued at approximately $46,000. Picton Mahoney Asset Management boosted its holdings in Omeros by 692.5% during the fourth quarter. Picton Mahoney Asset Management now owns 5,040 shares of the biopharmaceutical company's stock worth $50,000 after buying an additional 4,404 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Omeros by 14,486.3% in the first quarter. GAMMA Investing LLC now owns 7,439 shares of the biopharmaceutical company's stock worth $61,000 after buying an additional 7,388 shares during the last quarter. 48.79% of the stock is owned by institutional investors and hedge funds.

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.