Omeros (OMER): Reiterating $21 PT On Solid Prelim Phase II Data - Cantor Fitzgerald
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Cantor Fitzgerald analyst, Elemer Piros, reiterated his Buy rating on Omeros Corp. (NASDAQ: OMER) after the company reported initial positive results from its Phase 2 trial with OMS721, a complement inhibitor, in six patients across three separate renal diseases.
In two out of the three nephropathy conditions tested, there are encouraging signals of efficacy for OMS721. Nothing is approved and nothing has really worked in these steroid-dependent populations. These patients, with >1,000mg protein in their urine, are headed to end stage renal disease and a transplant.
It is important to note, that the successful data was in six patients. No change to $21 price target.
price target of $21.00
Shares of Omeros Corp. closed at $7.34 yesterday.
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