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Omeros Corporation (OMER) Message Board

  • dooper55 dooper55 Dec 4, 2012 7:48 AM Flag

    Needham upgraded Omeros based on valuation.

    Price target is $10.

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    • From StreetInsider .....

      The firm [Needham] comments, "Omeros is expected to announce results of a Phase 3 trial of OMS-103HP in meniscectomy surgery in the near future, presumably in Dec 2012. Although Omeros previously announced positive results from a Phase 2 trial in this indication, we have been concerned by Phase 3 trial failures with OMS103HP in ACL surgery in early 2011. Our essentially neutral sentiment towards the outcome of the Phase 3 OMS103HP trial is unchanged. However, we are adopting a more favorable overall view towards the stock given the announcement last month of positive results from a second Phase 3 trial of OMS302 in eye surgery and the recent drop in share price, leading to the current relatively low ~$175M EV. We do not believe the commercial opportunity for OMS302 in eye surgery is particularly large, but it may present a floor in case of a negative OMS103HP outcome. Consequently, we are upgrading to BUY. Our $10 price target is based on 25x our 2017 EPS estimate,
      discounted 15%."

 
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