H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Omeros Corp (NASDAQ: OMER) today and set a price target of $34. The company’s shares closed yesterday at $23.35, close to its 52-week high of $25.20.
Selvaraju wrote:
“Valuation methodology, risks and uncertainties. We ascribe a total firm value of roughly $2B to Omeros based on OMIDRIA ($806M) and OMS721 ($1.2B). This translates into a target of $34.00 per share, based on 60M fully-diluted shares outstanding as of end-2Q 2019.”
According to TipRanks.com, Selvaraju is a 2-star analyst with an average return of 0.1% and a 43.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Omeros Corp is a Strong Buy with an average price target of $29, representing a 24.2% upside. In a report released yesterday, Maxim Group also maintained a Buy rating on the stock with a $32 price target.
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The company has a one-year high of $25.20 and a one-year low of $8.36. Currently, Omeros Corp has an average volume of 581.5K.
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Omeros Corp. operates as a biopharmaceutical company specializes in discovery, development, and commercializes of both small-molecule and protein therapeutics for large -market as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system.
