Omeros (NASDAQ:OMER) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Omeros (NASDAQ:OMER) in a research note released on Thursday morning,Benzinga reports.

A number of other research firms have also issued reports on OMER. Rodman & Renshaw began coverage on Omeros in a research note on Thursday. They issued a “buy” rating and a $9.00 target price on the stock. StockNews.com lowered Omeros from a “hold” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Omeros presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Omeros Trading Down 2.9 %

Shares of NASDAQ:OMER traded down $0.20 during trading on Thursday, hitting $6.75. 1,803,967 shares of the stock were exchanged, compared to its average volume of 465,532. The company has a fifty day moving average price of $4.08 and a two-hundred day moving average price of $4.07. The company has a market cap of $391.14 million, a PE ratio of -2.89 and a beta of 1.47. Omeros has a 12-month low of $1.38 and a 12-month high of $7.51.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OMER. BNP Paribas Financial Markets raised its holdings in Omeros by 75.5% in the 1st quarter. BNP Paribas Financial Markets now owns 30,102 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 12,951 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Omeros in the 1st quarter valued at $85,000. Vanguard Group Inc. raised its holdings in Omeros by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company’s stock valued at $11,213,000 after acquiring an additional 81,348 shares during the last quarter. Comerica Bank raised its holdings in Omeros by 20.0% in the 1st quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Cypress Capital Group increased its holdings in shares of Omeros by 40.0% during the 2nd quarter. Cypress Capital Group now owns 35,000 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 10,000 shares during the last quarter. 48.79% of the stock is currently owned by institutional investors and hedge funds.

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.