StockNews.com Upgrades Omeros (NASDAQ:OMER) to Hold

Omeros (NASDAQ:OMER - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Wednesday.

Several other analysts have also recently issued reports on OMER. Needham & Company LLC reiterated a "hold" 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. Cantor Fitzgerald reissued a "neutral" rating on shares of Omeros in a research note on Thursday, November 14th. Finally, Rodman & Renshaw initiated coverage on Omeros in a research report on Thursday, November 14th. They set a "buy" rating and a $9.00 price objective for the company. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Omeros Price Performance

Shares of OMER remained flat at $6.03 during trading hours on Wednesday. 369,676 shares of the company traded hands, compared to its average volume of 471,672. The firm has a market cap of $349.44 million, a price-to-earnings ratio of -2.61 and a beta of 1.47. The business's fifty day moving average is $4.24 and its 200-day moving average is $4.14. Omeros has a 1 year low of $1.60 and a 1 year high of $7.51.

Institutional Investors Weigh In On Omeros

A number of hedge funds and other institutional investors have recently modified their holdings of OMER. Vanguard Group Inc. boosted its stake in shares of Omeros by 2.6% during the first quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company's stock valued at $11,213,000 after purchasing an additional 81,348 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 during the last quarter. State Street Corp boosted its holdings in Omeros by 0.3% in the third quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company's stock valued at $4,867,000 after acquiring an additional 3,839 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Omeros by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company's stock valued at $1,926,000 after purchasing an additional 18,454 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 31,081 shares during the period. Institutional investors and hedge funds own 48.79% of the company's stock.

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.