Omeros (NASDAQ:OMER) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Omeros Corporation (NASDAQ:OMER)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.64 and traded as high as $12.00. Omeros shares last traded at $11.65, with a volume of 1,168,362 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. D. Boral Capital reissued a “buy” rating and set a $36.00 price objective on shares of Omeros in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Weiss Ratings raised shares of Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 14th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Omeros in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.33.

Omeros Stock Up 1.7%

The stock has a market cap of $843.23 million, a PE ratio of 16.64 and a beta of 2.66. The business’s fifty day moving average is $12.30 and its 200 day moving average is $11.64.

Omeros (NASDAQ:OMER) last released its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $9.89 million for the quarter, compared to analysts’ expectations of $4.19 million. As a group, analysts predict that Omeros Corporation will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Omeros

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMER. UBS Group AG raised its position in Omeros by 213.5% during the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company’s stock worth $38,180,000 after acquiring an additional 1,513,893 shares during the last quarter. Vanguard Group Inc. raised its position in Omeros by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company’s stock worth $68,929,000 after acquiring an additional 666,357 shares during the last quarter. JPMorgan Chase & Co. raised its position in Omeros by 1,201.1% during the third quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock worth $1,706,000 after acquiring an additional 384,168 shares during the last quarter. State Street Corp raised its position in Omeros by 26.9% during the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company’s stock worth $27,025,000 after acquiring an additional 333,798 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in Omeros by 39.3% during the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock worth $3,827,000 after acquiring an additional 263,095 shares during the last quarter. Institutional investors and hedge funds own 48.79% of the company’s stock.

About Omeros

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.