Wedbush Reiterates an 'Outperform' on Omeros Corp. (OMER); Hits Primary and Secondary Endpoints
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Price: $17.19 -0.92%
Rating Summary:
8 Buy, 5 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 5 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush reiterates an 'Outperform' on Omeros Corp. (NASDAQ: OMER) price target raised from $15 to $17.
Analyst, Liana Moussatos, said, "Omeros announced highly statistically significant Phase 3 results for OMS302 treatment to improve outcomes in eye surgery...We anticipate two additional transforming clinical data releases in 2012: Omeros ended Q3:11 with about $32.9 million in cash, equivalents, and short-term investments, and we project runway into Q3:12 which includes Phase 3 data release for OMS103HP. There are two OMS103HP studies with both having efficacy endpoints focused on improvement in postoperative joint function and reduced pain using the Knee Injury and Osteoarthritis Outcome Score (KOOS) which was successful in the Phase 2 trial."
"We believe that OMER is at an attractive valuation longer-term and our fair value goes to $17 on decreased risk assumptions. We have increased our multiple to 7x from 6x for OMS302 to reflect lower risk given the positive Phase 3 data."
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 $7.64 yesterday.
Analyst, Liana Moussatos, said, "Omeros announced highly statistically significant Phase 3 results for OMS302 treatment to improve outcomes in eye surgery...We anticipate two additional transforming clinical data releases in 2012: Omeros ended Q3:11 with about $32.9 million in cash, equivalents, and short-term investments, and we project runway into Q3:12 which includes Phase 3 data release for OMS103HP. There are two OMS103HP studies with both having efficacy endpoints focused on improvement in postoperative joint function and reduced pain using the Knee Injury and Osteoarthritis Outcome Score (KOOS) which was successful in the Phase 2 trial."
"We believe that OMER is at an attractive valuation longer-term and our fair value goes to $17 on decreased risk assumptions. We have increased our multiple to 7x from 6x for OMS302 to reflect lower risk given the positive Phase 3 data."
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 $7.64 yesterday.
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