Omeros (NASDAQ:OMER) Shares Gap Up – Should You Buy?

Omeros Co. (NASDAQ:OMER) gapped up before the market opened on Tuesday . The stock had previously closed at $9.74, but opened at $10.12. Omeros shares last traded at $9.85, with a volume of 136,338 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on OMER. D. Boral Capital initiated coverage on Omeros in a report on Monday, December 23rd. They issued a “buy” rating and a $36.00 price target for the company. Rodman & Renshaw started coverage on shares of Omeros in a research note on Thursday, November 14th. They set a “buy” rating and a $9.00 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Omeros in a research report on Thursday, December 19th. Finally, StockNews.com upgraded Omeros from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Omeros currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Omeros Price Performance

The company has a market cap of $580.08 million, a PE ratio of -4.33 and a beta of 1.97. The company has a 50-day moving average price of $7.84 and a two-hundred day moving average price of $5.47.

Institutional Trading of Omeros

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased 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 acquiring an additional 7,016 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Omeros by 19.2% during the 3rd quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 3,000 shares during the last quarter. SPC Financial Inc. acquired a new stake in shares of Omeros during the third quarter worth approximately $77,000. SG Americas Securities LLC bought a new stake in shares of Omeros in the third quarter worth $80,000. Finally, AQR Capital Management LLC bought a new stake in shares of Omeros in the 2nd quarter worth about $105,000. 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.