Omeros (NASDAQ:OMER) Shares Gap Up - Here's Why

Key Points

• Omeros Corporation's stock experienced a significant jump, opening at $11.59 after a previous close of $4.10, and last traded at $10.04.
• Analysts have mixed opinions on Omeros, with a consensus rating of "Moderate Buy" and a target price of $18.00.
• The company reported a quarterly revenue of $28.60 million, significantly exceeding the consensus estimate of $0.31 million.

Omeros Corporation (NASDAQ:OMER - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $4.10, but opened at $11.59. Omeros shares last traded at $10.04, with a volume of 47,286,100 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Omeros in a report on Wednesday, October 8th. Wall Street Zen raised shares of Omeros from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. D. Boral Capital reissued a "buy" rating and issued a $36.00 price target on shares of Omeros in a report on Wednesday. HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Omeros in a report on Friday, June 27th. Finally, Needham & Company LLC restated a "hold" rating on shares of Omeros in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Omeros Stock Up 148.6%

The business's 50-day simple moving average is $4.24 and its 200 day simple moving average is $4.50. The firm has a market capitalization of $693.80 million, a P/E ratio of -4.92 and a beta of 2.32.

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

Institutional Trading of Omeros

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Omeros by 3.0% in the first 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. Marshall Wace LLP boosted its holdings in Omeros by 15.1% in the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company's stock valued at $2,224,000 after acquiring an additional 97,224 shares in the last quarter. Bank of Montreal Can boosted its holdings in Omeros by 1.4% in the second quarter. Bank of Montreal Can now owns 571,095 shares of the biopharmaceutical company's stock valued at $1,713,000 after acquiring an additional 8,000 shares in the last quarter. Bank of New York Mellon Corp lifted its position in 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 during the period. Finally, Wellington Management Group LLP purchased a new position in Omeros during the first quarter valued at $1,118,000. 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.

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