H.C. Wainwright Sticks to Their Buy Rating for Omeros Corp (OMER)

By Carrie Williams

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Omeros Corp (OMERResearch Report) today and set a price target of $34. The company’s shares closed yesterday at $14.04.

Selvaraju said:

“Valuation methodology, risks and uncertainties. We currently ascribe a total firm value of roughly $2.3B to Omeros based on OMIDRIA ($820M) and OMS721 ($1.5B). This translates into a target of $34.00 per share, based on 68M fully-diluted shares outstanding as of end-2019. We assume the redemption of the senior convertible notes in full after one year, using proceeds from a follow-on offering of common stock in late 2019.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -11.1% and a 27.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Aerpio Pharmaceuticals Inc.

Currently, the analyst consensus on Omeros Corp is a Moderate Buy with an average price target of $33.

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Based on Omeros Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $39.47 million. In comparison, last year the company had a GAAP net loss of $7.48 million.

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