Omeros Corporation (NASDAQ:OMER) announced that Rajiv Shah, M.D., recent Administrator of the United States Agency for International Development (USAID), has been appointed to serve on the company’s board of directors.
From 2010 to 2015, Dr. Shah served as Administrator of USAID, the U.S. government agency responsible for administering civilian foreign aid. During his tenure, Dr. Shah led the efforts of nearly 10,000 staff in more than 70 countries around the world to advance USAID’s mission of ending extreme poverty and promoting resilient, democratic societies.
“We are pleased to welcome Raj to our board – he brings an outstanding scientific background together with a proven track record of innovation in leading the world’s premier development organization,” stated Gregory A. Demopulos, M.D., chairman and chief executive officer ofOmeros. “While at USAID, Raj creatively forged strategic partnerships with corporations and private capital to address some of the most pressing global problems, and he is a valuable addition to our team as we continue to expand our development and commercial activities.”
From 2009 to 2010, Dr. Shah served as the Under Secretary for Research, Education and Economics and Chief Scientist at the U.S. Department of Agriculture. Prior to his service in theObama Administration, he worked in senior roles at the Bill & Melinda Gates Foundation, leading the Foundation’s efforts in global health, agriculture, and financial services. He also played a key role in the Foundation’s efforts to advance domestic health care reform.
“I am honored to join the Omeros board,” said Dr. Shah. “With its strong leadership, Omeros is executing on its integrated strategy of commercial success with Omidria® to advance its deep and exciting pipeline of clinical and preclinical small-molecule and protein therapeutic programs. The strength of science and translational capabilities at Omeros are impressive, and I look forward to contributing to the future growth and direction of the company.”
Dr. Shah is currently a Distinguished Fellow at Georgetown University’s School of Foreign Service, where his work focuses on international development and building out Georgetown’s master’s program in Global Human Development. He also sits on the board of directors of Arcadia Biosciences, Inc. and the board of trustees of the Rockefeller Foundation. Dr. Shah earned his M.D. from the University of Pennsylvania Medical School, his Master of Science in health economics at the Wharton School of Business and his Bachelor of Science in economics from theUniversity of Michigan. (Original Source)
Shares of Omeros closed yesterday at $19.86 . OMER has a 1-year high of $27.64 and a 1-year low of $11.18. The stock’s 50-day moving average is $20.60 and its 200-day moving average is $22.39.
On the ratings front, Omeros has been the subject of a number of recent research reports. In a report issued on April 14, MLV & Co. analyst Ram Selvaraju maintained a Buy rating on OMER, with a price target of $38, which represents a potential upside of 91.3% from where the stock is currently trading. Separately, on the same day, Wedbush’s Liana Moussatos reiterated a Buy rating on the stock and has a price target of $61.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ram Selvaraju and Liana Moussatos have a total average return of 10.4% and 34.1% respectively. Selvaraju has a success rate of 48.4% and is ranked #466 out of 3629 analysts, while Moussatos has a success rate of 52.9% and is ranked #32.
Omeros Corp is engaged in the discovery, development and commercialization of pharmaceutical products for inflammation, coagulopathies and disorders of the central nervous system.