Omeros (NASDAQ:OMER) Trading Up 4.6% – Here’s Why
by Renee Jackson · The Cerbat GemOmeros Corporation (NASDAQ:OMER – Get Free Report) shot up 4.6% during trading on Tuesday . The stock traded as high as $17.17 and last traded at $17.3350. 1,336,446 shares traded hands during trading, a decline of 24% from the average session volume of 1,758,229 shares. The stock had previously closed at $16.57.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on OMER shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Omeros in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating on shares of Omeros in a report on Wednesday, December 24th. Wall Street Zen raised shares of Omeros from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Wednesday, October 15th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 target price on shares of Omeros in a research note on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.67.
Check Out Our Latest Stock Analysis on OMER
Omeros Trading Up 3.1%
The firm has a market cap of $1.21 billion, a PE ratio of -8.46 and a beta of 2.48. The stock’s 50 day moving average price is $9.23 and its 200 day moving average price is $5.93.
Omeros (NASDAQ:OMER – Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.39. Analysts forecast that Omeros Corporation will post -3.09 earnings per share for the current year.
Institutional Trading of Omeros
A number of institutional investors have recently made changes to their positions in OMER. Vanguard Group Inc. raised its holdings in Omeros by 1.9% during the third quarter. Vanguard Group Inc. now owns 3,346,958 shares of the biopharmaceutical company’s stock worth $13,723,000 after purchasing an additional 63,381 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after buying an additional 263,095 shares during the period. Marshall Wace LLP boosted its stake in Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock valued at $2,224,000 after buying an additional 97,224 shares in the last quarter. Bank of Montreal Can grew its holdings in Omeros by 1.4% during the second quarter. Bank of Montreal Can now owns 571,095 shares of the biopharmaceutical company’s stock worth $1,713,000 after acquiring an additional 8,000 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Omeros by 1,201.1% in the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock worth $1,706,000 after acquiring an additional 384,168 shares in the last quarter. 48.79% of the stock is owned by institutional investors and hedge funds.
About Omeros
Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.
Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.