Omeros (NASDAQ:OMER) Shares Down 4.4% – What’s Next?

Omeros Co. (NASDAQ:OMER) shares dropped 4.4% during trading on Friday . The stock traded as low as $8.66 and last traded at $8.61. Approximately 99,645 shares traded hands during trading, a decline of 83% from the average daily volume of 578,914 shares. The stock had previously closed at $9.01.

Wall Street Analysts Forecast Growth

OMER has been the subject of a number of research analyst reports. D. Boral Capital restated a “buy” rating and issued a $36.00 target price on shares of Omeros in a research note on Thursday, January 16th. Rodman & Renshaw started coverage on Omeros in a research note on Thursday, November 14th. They set a “buy” rating and a $9.00 price objective for the company. RODMAN&RENSHAW upgraded 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 report on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Omeros currently has an average rating of “Moderate Buy” and an average target price of $22.50.

Omeros Stock Down 7.9 %

The company has a market cap of $481.10 million, a PE ratio of -3.58 and a beta of 2.01. The business has a 50-day simple moving average of $9.65 and a 200-day simple moving average of $6.13.

Institutional Trading of Omeros

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMER. Rhumbline Advisers raised its position in 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 purchasing an additional 6,435 shares during the period. AQR Capital Management LLC acquired a new position in shares of Omeros in the second quarter worth $105,000. SG Americas Securities LLC acquired a new position in shares of Omeros in the third quarter worth $80,000. SPC Financial Inc. acquired a new position in shares of Omeros in the third quarter worth $77,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Omeros by 4.0% in the third 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. Hedge funds and other institutional investors own 48.79% of the company’s stock.

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.