Omeros initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Omeros (OMER) with a Buy rating and $9 price target The company has a “deep and broad” rare disease pipeline which offers the potential for long term value creation for investors, the analyst tells investors in a research note. The firm says Omeros has had the capital to overcome pipeline setbacks, and is now ahead of a potential approval for its lead pipeline product, narsoplimab, for for the treatment of hematopoietic stem cell transplantation-associated thrombotic microangiopathy. Given the unmet need, orphan nature of the indication and pricing potential, H.C. Wainwright believes approval for Narsoplimab in September could unlock a $500M to $1B opportunity.