H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Omeros Corp (OMER) today and set a price target of $35. The company’s shares closed last Monday at $18.48.
Selvaraju commented:
“We currently ascribe a total firm value of roughly $2.45B to Omeros based on our risk-adjusted net present value (rNPV) determinations for OMIDRIA ($800M) and OMS721 ($1.65B). Our probability of approval for OMS721 currently stands at 65%, while we utilize a 23% effective tax rate and 12.5% discount rate. This translates into a target of $35.00 per share, based on 70M fully-diluted shares outstanding as of mid-2020. Our fully-diluted share count assumes the exercise of 12M options and warrants, along with the issuance of an additional 9M shares of common stock.”
According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.3% and a 32.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Stealth Biotherapeutics Corp.
Omeros Corp has an analyst consensus of Moderate Buy, with a price target consensus of $28.33.
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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 $14.45 million. In comparison, last year the company had a GAAP net loss of $33.7 million.
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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.
