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UPDATE: Canaccord Genuity Cuts PT to $13 on Omeros Corporation on Phase 3 Endpoint Miss

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Canaccord Genuity reiterated its Buy rating on Omeros Corporation (NASDAQ: OMER) but lowered its price target from $15 to $13.

Canaccord Genuity noted, "Reiterate BUY, lowering target to $13 on slightly increased clinical risk/lower probability of success, later launch of OMS103 in meniscectomy, but our confidence in OMS302 approval, revenue in cataract surgery remains. OMS302 is in development for pupil dilation maintenance in lens surgery, where dilation is key for lens placement and recovery. 302 is OMER's second PharmacoSurgery asset after OMS103, now in Ph3 for meniscectomy surgery. Our $14 target is based on pNPV analysis."

Omeros Corporation closed at $5.84 on Thursday.

Latest Ratings for OMER

DateFirmActionFromTo
Feb 2014McNicoll Lewis VlakMaintainsBuy
Apr 2013WBB SecuritiesMaintainsStrong Buy
Apr 2013MLV & Co.Initiates Coverage onBuy

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Posted-In: Canaccord GenuityAnalyst Color Price Target Intraday Update Analyst Ratings

 

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