Omeros (NASDAQ:OMER) Shares Gap Down – What’s Next?

Omeros Co. (NASDAQ:OMER) shares gapped down before the market opened on Wednesday . The stock had previously closed at $9.15, but opened at $8.95. Omeros shares last traded at $8.93, with a volume of 53,837 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OMER. Needham & Company LLC restated a “hold” rating on shares of Omeros in a research note on Friday, January 17th. RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros in a research note on Thursday, November 14th. StockNews.com upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Rodman & Renshaw began coverage on shares of Omeros in a research report on Thursday, November 14th. They issued a “buy” rating and a $9.00 target price for the company. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Omeros currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Omeros Trading Down 7.1 %

The company’s 50 day moving average price is $9.69 and its two-hundred day moving average price is $6.15. The stock has a market cap of $485.04 million, a P/E ratio of -3.62 and a beta of 2.01.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Omeros by 0.5% during the 3rd 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 period. State Street Corp increased its stake in Omeros by 0.3% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Omeros by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company’s stock valued at $1,926,000 after acquiring an additional 18,454 shares during the period. Rhumbline Advisers lifted its position in shares of Omeros by 6.1% in the second quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock valued at $454,000 after acquiring an additional 6,435 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Omeros by 121.3% in the third quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock worth $376,000 after acquiring an additional 51,873 shares during the period. 48.79% of the stock is owned by hedge funds and other institutional investors.

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.