Omeros (NASDAQ:OMER) Trading Up 10.3% - Time to Buy?

Omeros Co. (NASDAQ:OMER - Get Free Report)'s stock price traded up 10.3% during mid-day trading on Friday . The stock traded as high as $10.92 and last traded at $10.85. 474,122 shares were traded during mid-day trading, a decline of 11% from the average session volume of 533,973 shares. The stock had previously closed at $9.84.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OMER. Cantor Fitzgerald reissued a "neutral" rating on shares of Omeros in a report on Thursday, November 14th. StockNews.com raised shares of Omeros from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th. Rodman & Renshaw assumed coverage on shares of Omeros in a research note on Thursday, November 14th. They issued a "buy" rating and a $9.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of Omeros in a report on Thursday, December 19th. Finally, D. Boral Capital began coverage on Omeros in a report on Monday, December 23rd. They set a "buy" rating and a $36.00 target price on the stock. Three equities research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Omeros Stock Up 13.9 %

The stock has a market capitalization of $649.62 million, a P/E ratio of -4.85 and a beta of 1.97. The firm's 50-day simple moving average is $8.32 and its 200 day simple moving average is $5.62.

Institutional Trading of Omeros

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in Omeros by 0.3% in the third quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company's stock worth $4,867,000 after buying an additional 3,839 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Omeros by 7.2% during the 3rd quarter. HighTower Advisors LLC now owns 59,339 shares of the biopharmaceutical company's stock worth $235,000 after acquiring an additional 4,000 shares in the last quarter. MML Investors Services LLC grew 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 acquiring an additional 3,000 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Omeros during the third quarter worth $305,000. Finally, BNP Paribas Financial Markets raised its position in shares of Omeros by 130.6% during the third quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 7,016 shares during the period. 48.79% of the stock is currently owned by institutional investors.

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.