Omeros (NASDAQ:OMER) Shares Gap Down - Should You Sell?

Key Points

• Omeros Corporation (NASDAQ:OMER) experienced a significant stock price drop, opening at $9.15 after closing at $10.42, with shares trading at $9.40 as of the latest update.
• Despite the recent downturn, analysts maintain a Moderate Buy rating for Omeros, with an average price target of $27.50, following upgrades from several research firms.
• Institutional ownership of Omeros stock is notable, with nearly 48.79% of shares held by institutional investors, indicating strong interest from significant market players.

Omeros Corporation (NASDAQ:OMER - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $10.42, but opened at $9.15. Omeros shares last traded at $9.40, with a volume of 3,412,744 shares traded.

Wall Street Analysts Forecast Growth

OMER has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Omeros in a research report on Wednesday. Wall Street Zen upgraded shares of Omeros from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. HC Wainwright lifted their target price on shares of Omeros from $9.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday. WBB Securities restated a "strong-buy" rating and issued a $45.00 price objective on shares of Omeros in a research report on Wednesday. Finally, D. Boral Capital restated a "buy" rating and issued a $36.00 price objective on shares of Omeros in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $27.50.

Omeros Trading Down 4.2%

The business's 50 day moving average price is $4.37 and its two-hundred day moving average price is $4.54. The stock has a market cap of $679.40 million, a P/E ratio of -4.84 and a beta of 2.32.

Omeros (NASDAQ:OMER - Get Free Report) last announced its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.02. The company had revenue of $28.60 million for the quarter, compared to the consensus estimate of $0.31 million. As a group, analysts expect that Omeros Corporation will post -3.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OMER. GAMMA Investing LLC grew its holdings in shares of Omeros by 14,486.3% during the first quarter. GAMMA Investing LLC now owns 7,439 shares of the biopharmaceutical company's stock valued at $61,000 after buying an additional 7,388 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Omeros during the first quarter valued at approximately $579,000. Brighton Jones LLC raised its position in Omeros by 11.3% in the first quarter. Brighton Jones LLC now owns 30,714 shares of the biopharmaceutical company's stock worth $252,000 after acquiring an additional 3,125 shares during the period. Sowell Financial Services LLC bought a new position in Omeros in the first quarter worth approximately $88,000. Finally, Bank of New York Mellon Corp raised its position in Omeros by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 151,062 shares of the biopharmaceutical company's stock worth $1,242,000 after acquiring an additional 3,321 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.