Maxim Reiterates Buy on Omeros Corporation (OMER) Following Positive Phase 2 Data in Renal Diseases
In a research report published Monday, Maxim analyst Jason Kolbert reiterated a Buy rating on shares of Omeros Corporation (NASDAQ:OMER) with a price target of $19, after the pharmaceutical company announced positive data from its ongoing phase II study of OMS721 for the treatment of kidney diseases. In the wake of the news, Omeros shares are up nearly 5% to $7.71 in Monday’s trading session.
Kolbert commented, “OMS721 continues to demonstrate positive data across multiple indications that are associated with complement. What differentiates OMS721 from other complement inhibitors like Alexion’s Soliris, is the ability to target just a single arm of the complement system (lectin pathway) which leaves the rest of the system intact for important functions like protecting against infections.”
As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a yearly average loss of 15.9% and a 28% success rate. Kolbert has a 14.1% average loss when recommending OMER, and is ranked #4076 out of 4180 analysts.
As of this writing, all the 6 analysts polled by TipRanks rate Omeros stock a Buy. With a return potential of 417%, the stock’s consensus target price stands at $39.83.