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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
Gotham City Capital
20 Sep 14 02:10:06
$OMER http://t.co/7RQSAQ03jL
Gotham City Capital
20 Sep 14 02:09:52
$OMER Nice Wedge Forming..
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$ELRA closed up 288.89% on over 315 MILLION Volume! Get our new penny stock picks: http://t.co/qloC4OFNEn $OMER $TACT $ORAN
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19 Sep 14 06:37:00
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Stock Rocket
19 Sep 14 03:30:32
$NETE Gained 551.93% In The Past 6 Weeks! Major News: http://t.co/PU7GW934W5 $OMER $TACT $ORAN
Stock Rocket
18 Sep 14 21:57:12
$NETE Gained 551.93% In The Past 6 Weeks! Major News: http://t.co/h5N34SPJ6o $OMER $TACT $ORAN
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18 Sep 14 16:28:24
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18 Sep 14 05:12:40
http://t.co/l4qmOlz0qf chartguy89: Stock Charts: OMER 13.63 Stock Charts $OMER Omeros Corp. http://t.co/Ts4eeZfeei
chartguy89
18 Sep 14 05:10:44
OMER 13.63 Stock Charts $OMER Omeros Corp. (NASDAQ) Last Updated: 09/18/2014 07:10:51 OMER Stock Chart - 1 Mon http://t.co/WztFl5PAfF
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Stock Rocket
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17 Sep 14 16:02:57
$NETE Gained 551.93% In The Past 6 Weeks! Major News: http://t.co/PU7GW934W5 $OMER $TACT $ORAN
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$NETE Gained 551.93% In The Past 6 Weeks! Major News: http://t.co/PU7GW934W5 $OMER $TACT $ORAN
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17 Sep 14 10:35:02
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16 Sep 14 12:52:54
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16 Sep 14 11:14:42
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15 Sep 14 21:07:15
Omeros Corporation (OMER) Drops 6.44% on September 15 $OMER http://t.co/pIcdD2FCDv
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15 Sep 14 19:08:38
Our SECRET Alert on $INOH Closed Up 60% For Platinum Members Today! Major News: https://t.co/HzD6J3YtmW $OMER $TACT $ORAN
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15 Sep 14 15:47:43
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15 Sep 14 14:09:00
Real-Time feed of company contracts, original agreements and executive updates from Omeros Corp. $OMER http://t.co/OUYnDjeICP
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15 Sep 14 12:18:19
$DKAM Shot Up 150% And Has Seen Over 400 MILLION Volume Today! Huge News: http://t.co/PmkoXscmSi $OMER $TACT $ORAN
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15 Sep 14 09:20:29
We just released a major mid-day alert on MLHC! Check it out: http://t.co/zPRXsXfAGO $OMER $TACT $ORAN
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15 Sep 14 08:47:02
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14 Sep 14 01:31:23
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13 Sep 14 18:50:38
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j l
12 Sep 14 11:34:08
$OMER having recruitment issues with OMS643762 Huntington trial? Reduces enrollment from 120->36 http://t.co/DXjJKIrEz4
Stephen P Kendal
12 Sep 14 11:27:52
$OMER #UnderValued #Alert 10dMA⇓⇑$14.36⇗ 20dMA⇑⇓$13.78⇗ 50dMA⇑⇑$14.12⇘ 100dMA⇑⇑$13.57⇗ 200dMA⇑$12.45⇗ Price=$14.26. http://t.co/rLoqtdnQtD
				
				
By  +Follow September 16, 2013 7:36AM
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