UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Omeros Corporation

In a report published Friday, Deutsche Bank reiterated its Buy rating on Omeros Corporation

, but lowered its price target from $13.00 to $10.00. Deutsche Bank noted, “After the market close on Thursday, Omeros announced mixed results from a 344 patient Ph 3 trial for OMS103HP – the company's product candidate for use in arthroscopic surgery. And despite what now appears to be a more challenging pathway to commercialization, we continue to see OMS103HP as a viable candidate and rate the company's shares Buy given 1) the significant peak sale potential for the PharmacoSurgery platform (OMS302 ophthalmic NDA filing in early 2013), 2) its diverse clinical pipeline, and 3) and a still very modest valuation ($150M market cap).” Omeros Corporation closed on Thursday at $5.84.