WBB Pounds the Table on Omeros Following Orphan Drug Status, Maintains Strong Buy Rating, $20 Target

WBB Securities maintains Omeros Corporation

with a Strong Buy and maintains $20.00 PT. The firm's Stephen Brozak said, "As large pharmaceutical companies see their pipelines dwindling, they will need to turn to smaller companies with proprietary molecules that can be developed into new therapeutic capabilities. In our opinion, Omeros Corporation (OMER) is one company that fulfills such a requirement." Brozak noted the following "tremendous resources" held by Omeros: "a Phase III product ready for launch in 2014 that is expected to be quickly adopted by physicians (OMS 302 for ophthalmologic surgery), a Phase III product for arthroscopic knee surgery (OMS103) two phosphodiesterase programs (PDE10 for schizophrenia and PDE7 for addiction), plus a library of unlocked G protein coupled receptors (GPCRs), which hold the key to development of new drugs for life-threatening indications." The WBB analyst said Omeros previously demonstrated "repeated success using its proprietary high-throughput cellular redistribution assay to identify small-molecule agonists, antagonists and inverse agonists." With Omeros shares up 3 percent to around $3.95 Thursday afternoon, Brozak's price target implies potential upside of more than 400 percent.