Market Overview

Shares Of Omeros Rocket Higher As Wedbush Lifts Target, Sees Near Tripling In Stock Price

Share:
Related OMER
18 Biggest Mid-Day Gainers For Thursday
Mid-Day Market Update: NASDAQ Down Over 1%; TubeMogul Shares Surge Following Acquisition News

Omeros (NASDAQ: OMER) shares spiked over the $11 technical level in morning trade Wednesday following a mid-day research note from Wedbush's Liana Moussatos. The stock is now up more than 16 percent for the session.

Moussatos boosted her fair value estimate on Omeros from $28 to $32 while reiterating an Outperform rating.

The Wedbush analyst said, "With U.S. and EU regulators formally accepting OMS302 for review, the time clock for approval begins. With a July 2013 submission and our anticipation of a 10-month U.S. review for the OMS302 NDA, we estimate a PDUFA date in May 2014."

Moussatos does not expect any delays given the recent "stellar" results from each Phase 3 trial of OMS302.

Moussatos is modeling for peak global gross sales for the product at around $500 million. She is anticipating a possible partnership and Phase 2 results for OMS824 by the end of 2013.

With Omeros shares last trading at $11.27, Moussatos new fair value estimate suggests potential upside of more than 180 percent.

Latest Ratings for OMER

DateFirmActionFromTo
Jun 2016Cantor FitzgeraldInitiates Coverage onBuy
Apr 2016Roth CapitalTerminatesBuy
Aug 2015Roth CapitalInitiates Coverage onBuy

View More Analyst Ratings for OMER
View the Latest Analyst Ratings

Posted-In: Analyst Color News Price Target Reiteration FDA Analyst Ratings Movers

 

Related Articles (OMER)

View Comments and Join the Discussion!