Omeros Corp (OMER) Receives a Buy from H.C. Wainwright

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 closed on Friday at $15.17.

Selvaraju observed:

“We note that the performance vs. consensus was substantially more impressive, as Omeros delivered top-line results that were $6M ahead of consensus estimates and bottom-line numbers that were $0.26 better than consensus. Management indicated on its earnings conference call the strong year-end performance of OMIDRIA, which is currently covered for nearly 90% of relevant lives and which is on a $100M annualized revenue run rate as of December 2018. Investors should note that we expect OMIDRIA revenue to meaningfully accelerate over the course of this year and well into 2020, with our full-year 2019 revenue projection currently at $165.4M and 2020 top-line revenue estimated at $242.3M. Given the strength of the OMIDRIA franchise and the potential for multiple near-term pipeline catalysts, notably the start of a possible regulatory filing in the U.S.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.3% and a 37.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Omeros Corp has an analyst consensus of Moderate Buy, with a price target consensus of $33.50, implying a 120.8% upside from current levels. In a report issued on February 25, Maxim Group also maintained a Buy rating on the stock with a $32 price target.

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The company has a one-year high of $27 and a one-year low of $9.28. Currently, Omeros Corp has an average volume of 672.7K.

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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.