Wedbush Reiterates Outperform On Omeros Following Positive OMS721 Ex Vivo Results
Wedbush analyst Liana Moussatos reiterated an Outperform rating on Omeros (NASDAQ:OMER) with a $52 price target, after the company announced positive data using OMS721, the lead human monoclonal antibody for its mannan-binding lectin-associated serine protease-2 (MASP-2) program, to inhibit thrombus formation in an ex vivo pathophysiologic system of human atypical hemolytic uremic syndrome (aHUS), a form of thrombotic microangiopathy (TMA).
Moussatos noted, “We believe that if approved, OMS721 could provide a more convenient dosing and a safer clinical profile. OMS721, if successful in the clinic and approved, could fulfill and provide a more convenient subcutaneous dosing versus Soliris’ 35 minute intravenous dosing. In addition, because OMS721’s MASP-2 inhibition of complement through the lectin pathway, it does not appear to block the classical complement activation pathway—critical to infection response. This may produce a safer profile, which does not require prior vaccination before treatment initiation.
The analyst added, “Despite being limited by REMS in 2013, Soliris sold over $1.5 billion and with sales over $555 million in Q3:14 is likely to reach $2 billion in 2014. We believe the success of Soliris—despite toxicities—may imply a significant market potential for a safer and more convenient therapy for TMAs.””
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 59.0% and a 66.1% success rate. Moussatos has a 66.9% average return when recommending OMER, and is ranked #5 out of 3377 analysts.