H.C. Wainwright analyst Ram Selvaraju initiated coverage with a Buy rating on Omeros Corp (NASDAQ: OMER) today and set a price target of $34. The company’s shares closed yesterday at $21.70.
Selvaraju noted:
“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. Risks include: (1) trial delays; (2) adverse clinical results; (3) inability to obtain approval for OMS721 and other candidates; (4) inability to achieve additional market traction with OMIDRIA; and (5) earlier-than-anticipated introduction of OMIDRIA generics in the U.S.”
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -1.7% and a 36.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Omeros Corp with a $27.25 average price target.
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Based on Omeros Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $33.7 million. In comparison, last year the company had a GAAP net loss of $14.36 million.
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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.
