In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Omeros Corp (NASDAQ: OMER), with a price target of $34. The company’s shares closed on Friday at $13.99.
Selvaraju commented:
“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 ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.6% and a 28.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Synergy Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Omeros Corp with a $28.67 average price target, representing a 104.9% upside. In a report issued on October 2, Maxim Group also assigned a Buy rating to the stock with a $32 price target.
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The company has a one-year high of $27 and a one-year low of $8.36. Currently, Omeros Corp has an average volume of 806.5K.
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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.
