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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)

Results for OMER
TickerChirp
17 Apr 14 17:35:04
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17 Apr 14 15:23:41
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17 Apr 14 14:56:29
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Marius Jackson
17 Apr 14 10:48:18
$OMER Omeros to Present at the 13th http://t.co/IITc7atEXo
Mendy Feliciano
17 Apr 14 02:11:53
$OMER Omeros to Present at the 13th http://t.co/ttqINYS5jI
Stock Research
16 Apr 14 20:46:38
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16 Apr 14 19:54:47
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NASDAQ Chief
16 Apr 14 19:07:58
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16 Apr 14 18:47:25
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16 Apr 14 17:54:20
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16 Apr 14 16:18:32
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16 Apr 14 15:46:48
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16 Apr 14 14:09:32
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Cecily Humphrey
16 Apr 14 13:43:42
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Investment Engineer
16 Apr 14 10:36:51
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Darryl Kendall
16 Apr 14 07:46:49
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Stock Terminator
16 Apr 14 05:03:08
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16 Apr 14 04:07:06
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16 Apr 14 03:43:16
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16 Apr 14 03:24:06
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15 Apr 14 20:23:43
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Mendy Feliciano
15 Apr 14 20:13:12
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Lars Meath
15 Apr 14 18:01:03
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15 Apr 14 17:56:40
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Romulus Jackson
15 Apr 14 17:27:05
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15 Apr 14 14:42:56
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Rigoberto Hackett
15 Apr 14 14:31:54
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Informer
15 Apr 14 13:27:20
$OMER: Will St. Jude Medical (STJ) Surprise This Earnings Season? http://t.co/C4Z8fiE8US
Peter D. Hofmann
15 Apr 14 13:12:34
$OMER: Will St. Jude Medical (STJ) Surprise This Earnings Season? http://t.co/SVT4N6lbVg
SNN Team
15 Apr 14 12:53:20
$OMER - Will St. Jude Medical (STJ) Surprise This Earnings Season? -> http://t.co/6Ed2YhBOqp #stock #stocks #stockaction
Esau Cooper
14 Apr 14 20:46:06
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Albert Perales
14 Apr 14 17:00:22
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Ford Cadwell
14 Apr 14 14:50:41
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Hendrix Halls
14 Apr 14 12:32:22
$OMER Omeros to Present at the 13th http://t.co/snsYY5IkhS
Gold Stock News
14 Apr 14 10:42:13
$OMER Omeros to Present at the 13th http://t.co/iYs7T4is00
Kermit Bailey
14 Apr 14 09:31:33
$OMER Omeros to Present at the 13th http://t.co/lGBaiuSJZ9
Brenden Black
14 Apr 14 05:43:06
$OMER Omeros to Present at the 13th http://t.co/1KS3MCoX5H
Don Fishback
14 Apr 14 04:46:18
Negative Implied Borrow Rate $OMER, $CUDA, $SMN, $IPGP, $GNK http://t.co/ewvo80vERP
OptionApps
14 Apr 14 04:46:18
Negative Implied Borrow Rate $OMER, $CUDA, $SMN, $IPGP, $GNK http://t.co/FRlOYE7OyK
Charts 123
14 Apr 14 03:40:03
Buy Signal: $AKRX $AMCN $APRI $ARUN $BALT $BONA $IACI $KWK $MG $OMER $QLTY http://t.co/WAJqWRDTgV #stocks
Jaydan Gelson
14 Apr 14 03:09:48
$OMER Omeros to Present at the 13th http://t.co/9B8cp32kxc
Pike Gall
13 Apr 14 20:11:03
$OMER Omeros to Present at the 13th http://t.co/isKJTEGCv2
Samuel Farrow
13 Apr 14 18:45:57
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Jareth Beckhamgj
13 Apr 14 14:16:06
$OMER Omeros to Present at the 13th http://t.co/cOmTr0VEpC
Beverley Marinoh
13 Apr 14 11:10:15
$OMER Omeros to Present at the 13th http://t.co/ixhHr31hEq
Gary Rosovsky
13 Apr 14 10:59:59
$OMER Omeros to Present at the 13th http://t.co/jXEJnrQXqY
Lilly Bynum
13 Apr 14 08:23:08
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Bertie Beyer
13 Apr 14 04:02:12
$OMER Omeros to Present at the http://t.co/fuH9nnjXT6
Haiden Dallas
13 Apr 14 02:54:58
$OMER Omeros to Present at the http://t.co/Z2Yc0zRUpA
				
				
By  +Follow September 16, 2013 7:36AM
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