[PRNewswire] Omeros Corp (NASDAQ:OMER)(TREND ANALYSIS) announced that it has filed patent infringement lawsuits against Par Pharmaceutical, Inc. and its subsidiary, Par Sterile Products, LLC, (collectively “Par”) in the U.S. District Court for the District of New Jersey and in the U.S. District Court for the District of Delaware. The lawsuits were filed under the Hatch-Waxman Act for Par’s infringement of three Omeros patents, U.S. Patent Nos. 8,173,707, 8,586,633 and 9,066,856, which relate to Omeros’ drug Omidria® (phenylephrine and ketorolac injection) 1%/0.3% and which are listed in the Approved Drug Products with Therapeutic Equivalence Evaluations, known as the Orange Book, published by the U.S. Food and Drug Administration (“FDA”). The lawsuits were filed in response to a Paragraph IV certification notice Omeros received from Par, dated July 23, 2015, regarding Par’s filing with the FDA of an Abbreviated New Drug Application (“ANDA”) seeking approval to market a generic version of Omidria prior to the expiration of the three Orange Book-listed patents for Omidria. These patents were granted following review by the U.S. Patent and Trademark Office, are presumed to be valid under governing law, and can only be invalidated in federal court with clear and convincing evidence.
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Omeros Corp (NASDAQ:OMER) stock is currently trading 60.97% below its 52-week-high, 5.55% above its 52-week-low. The 1-year stock price history is in the range of $11.18 – $30.23. Omeros Corp (OMER) has a price to book ratio of 59.43. OMER stock price has underperformed the Nasdaq by 52.3%. The Biotechnology company is currently valued at $0.45 billion and its share price closed the last trading session at $11.8. The stock has a 50-day moving average of $14.86 and a 200-day moving average of $19.31.
Omeros Corp (OMER) current short interest stands at 10.05 million shares. It has increased by 2% from the same period of last month. Around 29% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.77 million shares, the number of days required to cover the short positions stand at 13.1 days.
The company is expected to announce next quarter earnings on November 09, at consensus estimate of $-0.4. Omeros Corp (OMER) reported last quarter earnings on August 10. The Biotechnology company announced earnings per share of $-0.37 against a consensus Street estimate of $-0.48, beating the average estimate by $0.11. This corresponds to an increase of $0.05 compared to the same quarter of the previous fiscal year.
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There are currently seven analysts that cover Omeros Corp stock. Of those seven, seven have a Buy rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $41.6.
A recent analyst activity consisted of Roth Capital who initiated their coverage on the stock with Buy rating on August 10. Roth Capital fixed their price target at $38. This corresponds to a 222.03% upside from the last closing price. On the date of report, the stock closed at $15.2.
Omeros Corporation is a biopharmaceutical company developing a pipeline of product candidates for use in orthopedics, rheumatology, urology, cardiovascular medicine, general surgery and pain management.