Omeros (NASDAQ:OMER) Shares Cross Above 200-Day Moving Average - What's Next?

Omeros Co. (NASDAQ:OMER - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.64 and traded as high as $9.40. Omeros shares last traded at $9.34, with a volume of 408,653 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OMER shares. Needham & Company LLC reiterated a "hold" rating on shares of Omeros in a research report on Friday, January 17th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Omeros in a research report on Thursday, November 14th. Rodman & Renshaw began coverage on Omeros in a report on Thursday, November 14th. They set a "buy" rating and a $9.00 target price on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $36.00 price objective on shares of Omeros in a research report on Thursday. Finally, StockNews.com raised shares of Omeros from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Three investment 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 stock. According to MarketBeat.com, Omeros has an average rating of "Moderate Buy" and a consensus target price of $22.50.

Omeros Stock Performance

The business has a fifty day moving average price of $9.27 and a 200 day moving average price of $6.71. The company has a market cap of $531.98 million, a price-to-earnings ratio of -3.97 and a beta of 1.98.

Hedge Funds Weigh In On Omeros

A number of institutional investors have recently added to or reduced their stakes in OMER. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Omeros by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,831 shares of the biopharmaceutical company's stock worth $314,000 after acquiring an additional 1,110 shares during the period. Truvestments Capital LLC increased its holdings in Omeros by 116.5% in the fourth quarter. Truvestments Capital LLC now owns 3,102 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 1,669 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Omeros by 79.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,467 shares of the biopharmaceutical company's stock valued at $44,000 after buying an additional 1,972 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Omeros by 2.0% during the 4th quarter. Ameriprise Financial Inc. now owns 120,493 shares of the biopharmaceutical company's stock worth $1,190,000 after buying an additional 2,317 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Omeros by 9.9% during the 4th quarter. Cerity Partners LLC now owns 28,989 shares of the biopharmaceutical company's stock worth $286,000 after buying an additional 2,600 shares during the period. 48.79% of the stock is currently 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.