Omeros (NASDAQ:OMER) Trading Down 5.1% – Should You Sell?

Omeros Corporation (NASDAQ:OMER)’s stock price was down 5.1% on Thursday . The company traded as low as $10.35 and last traded at $10.6680. Approximately 1,049,328 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 1,618,632 shares. The stock had previously closed at $11.24.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HC Wainwright boosted their target price on shares of Omeros from $9.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Omeros in a research note on Wednesday, October 8th. 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 reaffirmed a “hold” rating on shares of Omeros in a report on Wednesday, October 15th. Finally, Wall Street Zen upgraded Omeros from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Omeros currently has an average rating of “Moderate Buy” and an average target price of $33.67.

Omeros Trading Down 4.2%

The company has a market cap of $719.64 million, a PE ratio of -5.02 and a beta of 2.48. The firm’s fifty day moving average is $8.05 and its 200 day moving average is $5.28.

Omeros (NASDAQ:OMER) last issued its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.39. As a group, sell-side analysts anticipate that Omeros Corporation will post -3.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Omeros

A number of institutional investors have recently added to or reduced their stakes in OMER. Corton Capital Inc. purchased a new stake in shares of Omeros during the 2nd quarter valued at approximately $117,000. Hsbc Holdings PLC purchased a new position in Omeros in the 1st quarter valued at approximately $142,000. Nuveen LLC purchased a new position in Omeros in the 1st quarter valued at approximately $938,000. Wellington Management Group LLP acquired a new position in shares of Omeros in the first quarter worth $1,118,000. Finally, Invesco Ltd. increased its position in shares of Omeros by 169.1% during the first quarter. Invesco Ltd. now owns 87,044 shares of the biopharmaceutical company’s stock worth $716,000 after acquiring an additional 54,696 shares during the period. Hedge funds and other 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.