Maxim Group Comments On Omeros Following Temporary Suspension Of OMS824 Huntington’s Disease Trial
In a research report issued today, Maxim Group analyst Jason Kolbert assigned a Buy rating on Omeros (NASDAQ:OMER) with a price target of $20, as the company suspended its mid-stage trial of Huntington’s drug.
Kolbert commented: “What does this mean? Likely not much but we are confident that the right call is being made by Omeros to temporarily suspend the current phase II trial to be cautious. Omeros has had communications with the FDA and they agreed that Omeros should sort out the preclinical data. Over 120 HD patients have been dosed up to four weeks and the drug was well tolerated. We believe the trial will resume and phase II data will be reported later this year.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 5.0% and a 43.2% success rate. Kolbert has a -4.3% average return when recommending OMER, and is ranked #684 out of 3337 analysts.