Omeros (OMER) PT Raised to $70 at Wedbush

Wedbush analyst Liana Moussatos reiterated an Outperform rating and raised her price target on Omeros Corp. (NASDAQ: OMER) to $70.00 (from $61.00), saying OMS721 achieved proof of concept for aHUS in the firm's view.

Moussatos commented, "With significant normalization of platelet counts and other TMA parameters in aHUS patients, we believe OMS721 has achieved clinical proof-of-concept for efficacy. In our view, OMS721 achieved dose-dependent clinical efficacy in aHUS patients tested for 4 weeks and monitored for an additional week. There were three cohorts of 3 patients each tested with undisclosed low, medium and high dose of subcutaneously injected OMS721, a monoclonal antibody targeting MASP-2. The aHUS patients on the low dose showed trends toward improvements; however, the middle and higher doses resulted in a statistically significant (p=0.0055) increase in platelet counts (~68,000 platelets/mL) and achieved normalization in these three patients (2 medium dose, 1 high dose). Other TMA parameters including schistocyte count, haptoglobin, LDH, and creatinine also showed improvements in these three patients. We believe OMS721 with its more convenient subcutaneous dosing and potentially safer profile could be a threat to $2+ billion per year Soliris."

For an analyst ratings summary and ratings history on Omeros Corp. click here. For more ratings news on Omeros Corp. click here.

Shares of Omeros Corp. closed at $14.55 yesterday.

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