Maxim Group analyst Jason McCarthy maintained a Buy rating on Omeros Corp (OMER) today and set a price target of $32. The company’s shares closed yesterday at $18.56.
McCarthy noted:
“Omeros reported 1Q19 with Omidria revenues of $21.8M, slightly down from $22.0M in 4Q18, but driven by seasonality. Operating expenses were $41M and net loss was ($24M). Omeros ended the period with $47.2M in cash. The company also has a $50M accounts receivable line of credit.”
According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.9% and a 28.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Currently, the analyst consensus on Omeros Corp is a Strong Buy with an average price target of $27.50, implying a 48.2% upside from current levels. In a report issued on May 6, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $26 price target.
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The company has a one-year high of $27 and a one-year low of $10.30. Currently, Omeros Corp has an average volume of 606.2K.
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Omeros Corp. operates as a biopharmaceutical company. It engages in the discovery, development, and commercializes of both small-molecule and protein therapeutics for large market. It also offers orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system.
