Needham & Company LLC Reiterates Hold Rating for Omeros (NASDAQ:OMER)

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

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Omeros from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Rodman & Renshaw assumed coverage on shares of Omeros in a report on Thursday. They issued a “buy” rating and a $9.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.00.

Omeros Stock Performance

NASDAQ:OMER opened at $6.75 on Thursday. Omeros has a one year low of $1.38 and a one year high of $7.51. The firm has a market cap of $391.16 million, a P/E ratio of -2.92 and a beta of 1.47. The firm has a 50-day simple moving average of $4.14 and a 200-day simple moving average of $4.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OMER. BNP Paribas Financial Markets grew its position in shares of Omeros by 75.5% in the 1st quarter. BNP Paribas Financial Markets now owns 30,102 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 12,951 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Omeros in the 1st quarter worth approximately $85,000. Vanguard Group Inc. grew its position in shares of Omeros by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company’s stock worth $11,213,000 after buying an additional 81,348 shares during the last quarter. Comerica Bank grew its position in Omeros by 20.0% during the 1st quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Cypress Capital Group grew its position in 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 purchasing an additional 10,000 shares during 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.