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Omeros Corp. Spikes on Stock Upgrade

By  +Follow September 16, 2013 7:36AM
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Omeros Corp. (OMER) jumped over 60 percent on early trading after Wedbush raised its price target for the stock. The rise constituted Monday's biggest jump for Omeros since October of 2009, and came with especially heavy volume for the small-cap pharma company. With gains reaching over 64 percent, it was a big day for investors in the Seattle-based company that had seen shares bleed off almost 47 percent of their value over the last year.

Wedbush analysts expressed confidence in OMS302, a new drug being developed for use in ophthalmological procedures like cataracts surgeries. With the Food and Drug Administration clamping down on “homebrew” topical solutions used during intraocular lens replacement surgeries, OMS302 appears poised to be the only solution on the market that combines pain relief and pupil dilation.

Wedbush analyst Liana Moussatos was bullish on Omeros, reiterating an outperform rating while raising the price target to $28.

“We recently had a conversation with a high-volume cataract surgeon about the changing regulatory landscape following sterility issues at compound pharmacies. The FDA has indicated that each patient must be given a separate bottle for topical NSAIDs and mydriatic agents. In addition, surgeons are no longer allowed to mix their own homebrews of these agents for use during surgery—a common practice," she said. "The net impact is that the cost of topical NSAIDs and mydriatic agents per cataract procedure is rising—making not only the cost of OMS302 (we estimate ~$250/procedure in the U.S.) to be closer to topical agents, but also making it the only product combining pain relief and mydriasis which complies with these new regulations."

Approval of OMS302 is expected by the middle of next year, and Moussatos has estimated a 90 percent chance the drug gets the final go-ahead. The positive news about the outlook for OMS302 comes on the heels of last week’s news of positive data from phase 1 clinical trials for another Omeros drug, OMS824, an enzyme inhibitor intended for use in patients with Huntington’s disease and schizophrenia.

 

(image ocourtesy of Flickr)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for OMER
Stockaholics
1 Sep 14 16:17:57
$IWEB closed up 100% today, on more than 290 MILLION shares traded! Huge News: http://t.co/ucQcnpafDY $OMER $TACT $ORAN
Market Monitor
1 Sep 14 12:38:42
$OMER: Today's Watch List : Johnson & Johnson (NYSE:JNJ), Omeros Corporation ... http://t.co/hU6pmakG3M http://t.co/G8o2FogGKZ
12Stocks.com
1 Sep 14 03:04:00
Weekly SmallCap #Stocks Trend $RSH $ENZN $RPRX $CLUB $EXPR $ARO $ISIS $RALY $OMER $BDSI $GDP $ATRS more@ http://t.co/Giravo3fg9
Ben Silverberg
31 Aug 14 06:53:02
Commented on StockTwits: Nice move Friday for $OMER, needs to take out R at 15.28 then 15.87, consolidating past ... http://t.co/HsTwnXhcsW
12Stocks.com
30 Aug 14 03:04:35
Weekly SmallCap #Stocks Trend $RSH $ENZN $RPRX $CLUB $EXPR $ARO $ISIS $RALY $OMER $BDSI $GDP $ATRS more@ http://t.co/Giravo3fg9
Market Monitor
29 Aug 14 14:38:45
$OMER: Investors Watch List: Omeros Corporation (NASDAQ:OMER), Yandex N.V. ... http://t.co/I9CPQy9849 http://t.co/hGIbMFJCCf
Equities.com
29 Aug 14 14:30:32
Omeros Corporation (OMER) Jumps 5.07% on August 29 $OMER http://t.co/KTiObwhdjK
Daily Contracts
29 Aug 14 13:46:01
Real-Time feed of company contracts, original agreements and executive updates from Omeros Corp. $OMER http://t.co/OUYnDjeICP
12Stocks.com
29 Aug 14 13:01:44
SmallCap #Stocks Trend $RALY $RSH $BEBE $PACB $NAVB $TQNT $ATRS $RFMD $ENZN $BLOX $CODE $CLUB $OMER more@ http://t.co/Giravo3fg9
Stockaholics
29 Aug 14 12:31:07
RSII shot up over 100% today! Major Update: http://t.co/GMnQioznZp $OMER $TACT $ORAN
evander4242
29 Aug 14 08:54:36
$OMER breaking out of trading range on way to $16-18 range
Equities.com
28 Aug 14 02:08:47
How to Pick Winning Biotechs Before the Herd $LJPC $galt $icpt $XOMA $UTHR $PCRX $ALXN $OMER http://t.co/F8L9PIvAHO
Market Compass
27 Aug 14 20:38:53
$OMER: Omeros (OMER) Enters Overbought Territory http://t.co/nCc7boVrhk http://t.co/oIJuowWf7Z
Stockaholics
27 Aug 14 20:36:46
REVI closed up 44.5% today! Special Update: http://t.co/6o15AzsDr3 $OMER $TACT $ORAN
BreakoutStreetPicks
27 Aug 14 19:48:19
First idea for tomorrow is $OMER .. Strong MACD cross and nice uptrend.. http://t.co/4FXuTQyL95
Stockaholics
27 Aug 14 01:09:41
We are Releasing a SECRET Penny Stock Pick Today! Get it early: https://t.co/pOvMqLbReN $OMER $TACT $ORAN
OTPicks.com
26 Aug 14 22:07:13
http://t.co/hjgLwIcNgz Emylers: $OMER Up to date company activities and other: Emylers http://t.co/wdTwnia7zX http://t.co/hjgLwIcNgz
OTPicks.com
26 Aug 14 22:07:11
http://t.co/QkCFZ8H3V8 Emylers: $OMER Up to date company activities and other: Emylers http://t.co/wGhj9upcFj http://t.co/QkCFZ8H3V8
Ben Silverberg
26 Aug 14 16:48:38
$OMER confirmed B/O Continuation Wedge, S 13.55, close above R 14.31 on way to 15.92, PT 19.00-20.50 http://t.co/ctXYDTMEOg
Biz News Pioneer
26 Aug 14 16:38:39
$OMER: Omeros Corporation Estimates May Vary http://t.co/zHyOkl5Qtc http://t.co/tiiKxs98PH
Equities.com
26 Aug 14 15:44:01
Omeros Corporation (OMER) Jumps 5.62% on August 26 $OMER http://t.co/sOtaK06uzH
Phil Martin
26 Aug 14 14:23:40
$OMER http://t.co/V3Pgrqu4uf
StockSpotter
26 Aug 14 13:53:58
$OMER up 5.6% to 14.09 after bullish trade setup #stocks #options #trading http://t.co/ioOLeHYkhu
$$$ Money $$$
26 Aug 14 11:01:55
$OMER sleeper waken up after the sell off. Nice three days action
Day Trade Alerts
26 Aug 14 09:52:46
via #AlertTrade Price Action Alert $OMER - OMEROS #stocks #intraday http://t.co/VS8RO1bzXJ
Stock News Guru
26 Aug 14 09:38:44
$OMER: Monday’s Top Biotech Stories: Ariad, Omeros, NPS Pharmaceuticals, and Shire http://t.co/MN1yywqsKx http://t.co/mX6e4wlaRv
Investors Hangout
26 Aug 14 09:31:58
Emylers: $OMER Up to date company activities and other http://t.co/yhUMpyZeLQ
Investors Hangout
26 Aug 14 09:31:48
Emylers: $OMER Up to date company activities and other http://t.co/LBTJS50EaS
Investors Hangout
26 Aug 14 09:31:10
DennyT: ARIA Insider Roster $ARIA $TNA $X $OMER $GE http://t.co/bHd6NX8Roz
Investors Hangout
26 Aug 14 09:31:10
DennyT: ARIA Insider Roster $ARIA $TNA $X $OMER $GE http://t.co/ZhbKm1SHKw
Extreme Stocks
26 Aug 14 09:25:22
Emylers: $OMER Up to date company activities and other http://t.co/wTGYPAhaMm
Emylers
26 Aug 14 09:17:45
$OMER Up to date company activities and other important information about $OMER http://t.co/wFMPXpJS5g
Market Monitor
26 Aug 14 08:38:45
$OMER: Omeros' Omidria Gets FDA Nod http://t.co/XfXobvx2l9 http://t.co/7KM9xz9HVD
Investors Hangout
26 Aug 14 07:55:31
leahanne: $OMER Omeros Corp (OMER) 13.80 +0.46 (+3.45%) http://t.co/fQkeSZIHqU
Investors Hangout
26 Aug 14 07:54:53
leahanne: $OMER Omeros Corp (OMER) 13.80 +0.46 (+3.45%) http://t.co/iD692fkI0q
leahanne
26 Aug 14 07:40:24
$OMER Omeros Corp (OMER) 13.80 +0.46 (+3.45%) $XLY $SMH $PANW http://t.co/Chd75TypFq
Daily Contracts
26 Aug 14 06:35:01
Real-Time feed of company contracts, original agreements and executive updates from Omeros Corp. $OMER http://t.co/OUYnDjeICP
Stockaholics
26 Aug 14 01:56:06
$MCET closed up 57% yesterday. Platinum Members once saw 235% gains on it, in 1 week: https://t.co/9OxPSiatev $OMER $TACT $ORAN
Phil Martin
25 Aug 14 16:52:45
$OMER http://t.co/1PhfqIoy9b
				
				
By  +Follow September 16, 2013 7:36AM
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