Omeros (NASDAQ:OMER) Stock Price Up 3.6% - What's Next?

Shares of Omeros Co. (NASDAQ:OMER - Get Free Report) rose 3.6% on Friday . The stock traded as high as $11.06 and last traded at $10.84. Approximately 32,943 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 549,230 shares. The stock had previously closed at $10.46.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OMER. Needham & Company LLC restated a "hold" rating on shares of Omeros in a research note on Thursday, December 19th. Rodman & Renshaw initiated coverage on shares of Omeros in a report on Thursday, November 14th. They set a "buy" rating and a $9.00 target price on the stock. StockNews.com upgraded shares of Omeros from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. RODMAN&RENSHAW upgraded shares of Omeros to a "strong-buy" rating in a research note on Thursday, November 14th. Finally, D. Boral Capital initiated coverage on shares of Omeros in a report on Monday. They set a "buy" rating and a $36.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.50.

Omeros Price Performance

The firm has a market capitalization of $676.86 million, a P/E ratio of -5.06 and a beta of 1.96. The stock's fifty day simple moving average is $7.73 and its 200 day simple moving average is $5.41.

Hedge Funds Weigh In On Omeros

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new position in shares of Omeros during the third quarter valued at about $305,000. Barclays PLC boosted its stake in Omeros by 121.3% in the 3rd quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company's stock worth $376,000 after purchasing an additional 51,873 shares in the last quarter. Bank of New York Mellon Corp grew its position in Omeros by 16.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company's stock worth $887,000 after purchasing an additional 31,081 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Omeros during the 2nd quarter worth approximately $105,000. Finally, SG Americas Securities LLC acquired a new position in Omeros during the 3rd quarter valued at approximately $80,000. 48.79% of the stock is owned by institutional investors and hedge funds.

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.