H.C. Wainwright Reiterates Their Buy Rating on Omeros Corp (OMER)

By Ryan Adsit

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Omeros Corp (OMERResearch Report), with a price target of $35. The company’s shares opened today at $16.70.

Selvaraju noted:

“We currently ascribe a total firm value of roughly $2.4B to Omeros based on OMIDRIA ($836M) and OMS721 ($1.6B). This translates into a target of $35.00 per share, based on 69M fully-diluted shares outstanding as of end-1Q 2020. Risks include, but are not limited to: (1) trial delays; (2) adverse clinical results; (3) inability to obtain approval for OMS721 and other candidates; (4) inability to achieve more OMIDRIA market traction; and (5) earlier-than-anticipated introduction of OMIDRIA generics in the U.S.”

According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 4.0% and a 33.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Currently, the analyst consensus on Omeros Corp is a Strong Buy with an average price target of $27.75.

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Based on Omeros Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $24.35 million. In comparison, last year the company had a GAAP net loss of $33.7 million.

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Omeros Corp. operates as a biopharmaceutical company. It engages in the discovery, development, and commercializes of both small-molecule and protein therapeutics for large market. It also offers orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system.