Omeros Corp Receives a Buy from H.C. Wainwright

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Omeros Corp (NASDAQ: OMER) today and set a price target of $34. The company’s shares closed yesterday at $19.76.

Selvaraju said:

“Valuation methodology, risks and uncertainties. We ascribe a total firm value of roughly $2B to Omeros based on OMIDRIA ($806M) and OMS721 ($1.18B). This translates into a target of $34.00 per share, based on 58M fully-diluted shares outstanding as of end-1Q 2019.”

According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of 0.0% and a 43.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Omeros Corp has an analyst consensus of Strong Buy, with a price target consensus of $27.25, representing a 37.9% upside. In a report issued on July 12, Seaport Global also initiated coverage with a Buy rating on the stock with a $30 price target.

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Based on Omeros Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $30.05 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.