Omeros (NASDAQ:OMER) Shares Down 5.6% – Time to Sell?

Shares of Omeros Corporation (NASDAQ:OMER) dropped 5.6% on Tuesday . The stock traded as low as $8.48 and last traded at $8.57. Approximately 1,679,579 shares were traded during trading, an increase of 3% from the average daily volume of 1,632,897 shares. The stock had previously closed at $9.08.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OMER shares. Needham & Company LLC restated a “hold” rating on shares of Omeros in a research note on Wednesday, October 15th. 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. Weiss Ratings restated a “sell (d-)” rating on shares of Omeros in a research note on Wednesday, October 8th. HC Wainwright increased their target price on Omeros from $9.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Omeros in a report on Friday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.67.

Omeros Price Performance

The company has a market capitalization of $578.34 million, a price-to-earnings ratio of -4.06 and a beta of 2.40. The business has a fifty day moving average price of $5.88 and a 200 day moving average price of $4.57.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Omeros by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 151,062 shares of the biopharmaceutical company’s stock valued at $1,242,000 after buying an additional 3,321 shares in the last quarter. Harbour Investments Inc. increased its stake in Omeros by 51.9% in the 1st quarter. Harbour Investments Inc. now owns 9,218 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 3,149 shares during the period. Vanguard Group Inc. grew its holdings in shares of Omeros by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 3,237,256 shares of the biopharmaceutical company’s stock valued at $26,610,000 after acquiring an additional 95,599 shares in the last quarter. Deutsche Bank AG grew its stake in Omeros by 4.9% in the first quarter. Deutsche Bank AG now owns 42,019 shares of the biopharmaceutical company’s stock valued at $345,000 after purchasing an additional 1,973 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Omeros by 169.1% during the 1st quarter. Invesco Ltd. now owns 87,044 shares of the biopharmaceutical company’s stock worth $716,000 after purchasing an additional 54,696 shares in the last quarter. 48.79% of the stock is owned by hedge funds and other 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.