Omeros (NASDAQ:OMER) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Omeros Co. (NASDAQ:OMER)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.64 and traded as high as $9.40. Omeros shares last traded at $9.34, with a volume of 408,653 shares.

Wall Street Analysts Forecast Growth

OMER has been the subject of several recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 target price on shares of Omeros in a research note on Thursday, January 16th. Needham & Company LLC restated a “hold” rating on shares of Omeros in a research report on Friday, January 17th. RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Rodman & Renshaw started coverage on Omeros in a research report on Thursday, November 14th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. 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 data from MarketBeat, Omeros presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Omeros Stock Performance

The stock has a market cap of $541.25 million, a P/E ratio of -4.04 and a beta of 1.98. The stock has a fifty day simple moving average of $9.27 and a 200-day simple moving average of $6.64.

Hedge Funds Weigh In On Omeros

Several hedge funds have recently made changes to their positions in OMER. Truvestments Capital LLC boosted its holdings in Omeros by 116.5% during the fourth quarter. Truvestments Capital LLC now owns 3,102 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 1,669 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Omeros by 79.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,467 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 1,972 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Omeros in the 4th quarter valued at about $46,000. BNP Paribas Financial Markets increased its position in shares of Omeros by 130.6% in the third quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 7,016 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its holdings in Omeros by 692.5% during the fourth quarter. Picton Mahoney Asset Management now owns 5,040 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 4,404 shares in the last quarter. 48.79% of the stock is owned by institutional investors.

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.