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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
Chayton Falke
22 Nov 14 23:45:02
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Chayton Falke
22 Nov 14 13:45:01
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22 Nov 14 12:55:41
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Chayton Falke
22 Nov 14 03:45:02
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21 Nov 14 23:26:03
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Chayton Falke
21 Nov 14 17:45:06
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21 Nov 14 15:45:47
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Roberto
21 Nov 14 12:48:37
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FRANCIS MARTINEZ
21 Nov 14 11:14:52
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21 Nov 14 09:54:22
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21 Nov 14 09:27:04
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20 Nov 14 22:26:26
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20 Nov 14 16:33:26
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20 Nov 14 13:18:05
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20 Nov 14 11:32:05
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20 Nov 14 11:31:43
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20 Nov 14 10:55:09
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OTPicks.com
20 Nov 14 10:54:21
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20 Nov 14 10:54:18
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20 Nov 14 10:54:12
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O T P i c k s . com
20 Nov 14 10:54:08
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Smarter Analyst
20 Nov 14 10:10:54
$OMER Wedbush Reiterates Outperform On Omeros Following Positive OMS721 Ex Vivo Results http://t.co/G8LsnR9XJ0
Etos Etana
20 Nov 14 08:44:32
RT @IHPosts: DennyT: OMER 21.07 Omeros Corp $OMER Hit a 52 week high http://t.co/NafsnLBPgk
Etos Etana
20 Nov 14 08:44:21
RT @IHPosts: DennyT: OMER 21.07 Omeros Corp $OMER Hit a 52 week high http://t.co/ssJhEXyNXj
Investors Hangout
20 Nov 14 08:37:22
DennyT: OMER 21.07 Omeros Corp $OMER Hit a 52 week high http://t.co/DICRZsRj8M
Investors Hangout
20 Nov 14 08:37:20
DennyT: OMER 21.07 Omeros Corp $OMER Hit a 52 week high http://t.co/ukSIfG2JTR
Investors Hangout
20 Nov 14 08:37:14
DennyT: OMER 21.07 Omeros Corp $OMER Hit a 52 week high http://t.co/NafsnLBPgk
Investors Hangout
20 Nov 14 08:37:12
DennyT: OMER 21.07 Omeros Corp $OMER Hit a 52 week high http://t.co/ssJhEXyNXj
DennyT
20 Nov 14 08:27:41
OMER 21.07 Omeros Corp $OMER Hit a 52 week high of 21.07 Closing the day 09:44 at 21.07 +0.10 +0.48% With a da http://t.co/uh3buESeRY
DennyT
20 Nov 14 08:27:16
$OMER OMER 21.07 Omeros Corp $OMER Hit a 52 week high of 21.07 Closing the day 09:44 at 21.07 +0.10 +0.48% With a da http://t.co/wuXXpjem1X
Andreas Larsen
20 Nov 14 07:32:48
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monestsignalen
20 Nov 14 06:45:02
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Michael Broyan
20 Nov 14 06:40:15
$OMER MACD + RSI + SMAs signal break of bullish trend (ST). Target - 17.50
Daily Contracts
20 Nov 14 06:18:01
Real-Time feed of company contracts, original agreements and executive updates from Omeros Corp. $OMER http://t.co/fTTO31CtBn
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20 Nov 14 04:04:04
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TalkMarkets
20 Nov 14 03:37:50
$PTCT Spinal Muscular Atrophy Program Enters Phase 1b/2a Trial; $OMER Inhibits Thrombus Formation http://t.co/FOBIDHczEp
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20 Nov 14 03:26:42
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equities.com
20 Nov 14 03:17:43
Omeros Corporation (OMER) Hits New 52-week High During November 19 Session $OMER http://t.co/gJS7YCGoDI
MAISA
19 Nov 14 19:58:05
$OMER_$20.97_announced positive data using OMS721 to inhibit thrombus formation in an ex vivo pathophysiologic system of human aHUS
BioBounce.com
19 Nov 14 18:31:58
Pullbacks Watchlist: $ANAC $CEMP $IMDZ $INCY $NPSP $OMER $TGTX Holding positions in: $DYAX $IG $POZN $TTPH
SwingTradeBot
19 Nov 14 15:06:56
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19 Nov 14 14:44:42
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EAGLE_TRADER
19 Nov 14 09:56:54
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monestsignalen
19 Nov 14 09:09:03
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By  +Follow September 16, 2013 7:36AM
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