Wedbush Reiterates Outperform on Omeros Corporation (OMER) Following Fast Track Designation for OMS721
In a research report issued Thursday, Wedbush analyst Liana Moussatos reiterated an Outperform rating on Omeros Corporation (NASDAQ:OMER) with a price target of $61, following the news that the FDA has granted Fast Track status to OMS721, Omeros’ monoclonal antibody targeting MASP-2, for the treatment of patients with atypical hemolytic uremic syndrome.
Moussatos noted, “Fast Track status reflects recognition of an unmet need associated with disease and reduces regulatory risk, in our view, as the company is allowed greater access to the FDA to expedite the development of the drug.”
“With the release of quantitative data expected around year-end, we believe if OMS721 demonstrates a compelling efficacy and safety profile, it could be a transforming catalyst for OMER as the current standard-of-care (Soliris) sells more than $1 billion annually despite potential toxicities.”, the analyst continued.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Liana Moussatos has a total average return of 33.5% and a 51.7% success rate. Moussatos has a 34.0% average return when recommending OMER, and is ranked #34 out of 3713 analysts.