UPDATE: Rodman & Renshaw Upgrades Omeros to Outperform

Rodman & Renshaw raised its rating on Omeros Corp

to Market Outperform from Market Perform and establishes a new price target of $13 per share on the stock based on expected pivotal eye surgery data. Rodman says, “Pivotal data are expected from the OMS302 Phase 3 clinical program in eye surgery (1Q12), in addition to results from a Phase trial with OMS103HP in knee surgery (mid-2012). We believe that the anticipation of potentially positive news flow could serve as a catalyst on Omeros shares. We are upgrading the stock from Market Perform to Market Outperform with a new 12-month target price of $13/sh.” OMER closed at $3.93 per share on Friday.