Omeros (NASDAQ:OMER) Shares Gap Down – Time to Sell?

Omeros Co. (NASDAQ:OMER)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $10.11, but opened at $9.90. Omeros shares last traded at $10.21, with a volume of 91,339 shares.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. D. Boral Capital initiated coverage on shares of Omeros in a report on Monday. They set a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros in a 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, RODMAN&RENSHAW raised Omeros to a “strong-buy” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Omeros Price Performance

The business’s 50-day moving average price is $7.09 and its two-hundred day moving average price is $5.20. The firm has a market cap of $606.74 million, a price-to-earnings ratio of -4.53 and a beta of 1.97.

Institutional Investors Weigh In On Omeros

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted 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 purchasing an additional 6,839 shares during the last quarter. State Street Corp lifted its holdings in Omeros by 0.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 worth $1,926,000 after acquiring an additional 18,454 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Omeros by 16.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company’s stock valued at $887,000 after acquiring an additional 31,081 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Omeros by 6.1% during the 2nd 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. Institutional investors own 48.79% of the company’s stock.

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.