Omeros (NASDAQ:OMER) Trading Up 74.2% – What’s Next?

Omeros Corporation (NASDAQ:OMER) traded up 74.2% during mid-day trading on Wednesday . The company traded as high as $9.02 and last traded at $15.2420. 96,419 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 1,625,074 shares. The stock had previously closed at $8.75.

Analysts Set New Price Targets

Several research firms recently issued reports on OMER. Weiss Ratings reissued a “sell (d-)” rating on shares of Omeros in a research report on Wednesday, October 8th. D. Boral Capital reiterated a “buy” rating and set a $36.00 price target on shares of Omeros in a research note on Monday, December 1st. WBB Securities reissued a “strong-buy” rating and issued a $45.00 price objective on shares of Omeros in a report on Wednesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of Omeros in a research note on Wednesday, October 15th. Finally, HC Wainwright reiterated a “buy” rating on shares of Omeros in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.67.

Omeros Stock Performance

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -7.61 and a beta of 2.48. The company has a 50 day moving average price of $8.71 and a two-hundred day moving average price of $5.59.

Omeros (NASDAQ:OMER) last announced its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.39. On average, equities analysts expect that Omeros Corporation will post -3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OMER. Corton Capital Inc. acquired a new position in Omeros during the second quarter worth $117,000. Hsbc Holdings PLC purchased a new position in shares of Omeros during the 1st quarter worth $142,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Omeros during the 2nd quarter worth $280,000. Nuveen LLC purchased a new stake in shares of Omeros in the first quarter valued at about $938,000. Finally, Invesco Ltd. grew its holdings in shares of Omeros by 169.1% in the first quarter. Invesco Ltd. now owns 87,044 shares of the biopharmaceutical company’s stock valued at $716,000 after purchasing an additional 54,696 shares during the period. 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.