Omeros (NASDAQ:OMER) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Omeros Co. (NASDAQ:OMER)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.87 and traded as high as $9.01. Omeros shares last traded at $8.52, with a volume of 509,150 shares.

Analyst Upgrades and Downgrades

OMER has been the topic of a number of analyst reports. Rodman & Renshaw began coverage on Omeros in a research report on Thursday, November 14th. They set a “buy” rating and a $9.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a report on Friday, January 17th. RODMAN&RENSHAW raised shares of Omeros to a “strong-buy” rating in a research report on Thursday, November 14th. D. Boral Capital restated a “buy” rating and set a $36.00 price objective on shares of Omeros in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Omeros Stock Down 1.5 %

The company has a market cap of $486.20 million, a price-to-earnings ratio of -3.64 and a beta of 1.98. The stock’s 50-day simple moving average is $9.33 and its 200 day simple moving average is $6.87.

Hedge Funds Weigh In On Omeros

A number of hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. raised its position in Omeros by 136.2% in the fourth quarter. Nomura Holdings Inc. now owns 747,281 shares of the biopharmaceutical company’s stock valued at $7,383,000 after purchasing an additional 430,932 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Omeros during the 4th quarter valued at about $1,488,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Omeros in the 4th quarter valued at about $1,120,000. Jacobs Levy Equity Management Inc. purchased a new stake in Omeros during the fourth quarter worth about $1,033,000. Finally, Ancora Advisors LLC lifted its position in shares of Omeros by 1,036.4% during the fourth quarter. Ancora Advisors LLC now owns 85,800 shares of the biopharmaceutical company’s stock worth $848,000 after purchasing an additional 78,250 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.