Maxim Maintains Buy On Omeros Following New Commercial Supply Agreement
In a research report sent to investors today, analyst Jason Kolbert of Maxim Group maintained a Buy rating on Omeros (NASDAQ:OMER) with a $24 price target, as the company has entered into a commercial supply agreement, pursuant to which Hospira will act as a non-exclusive supplier of Omeros’ product Omidria for commercial sale in the United States and the European Union.
Kolbert observed, “According to the company’s filings, Hospira will both manufacture and supply Omidria (Omeros has agreed to purchase, a minimum percentage of product for commercial sales and clinical supplies for the development of additional therapeutic indications in the United States).” The analyst added, “We currently assume OMS302 (intraocular lens replacement surgery) will see a full launch in 4Q2014, with some modest sales having occurred in 3Q2014. Our valuation parameters still point to a $24.00 per share target price.”
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 8.4% and a 49.1% success rate. Kolbert has an 0.7% average return when recommending OMER, and is ranked #361 out of 3318 analysts.