Omeros Corp. received a negative opinion from the European CHMP on its marketing application for narsoplimab, prompting H.C. Wainwright analyst Brandon Folkes to lower his price target from $40 to $33 while maintaining a Buy rating. The revised target still implies more than 233% upside. Folkes called the decision a short-term headwind and emphasized the antibody's U.S. launch as the key value driver, noting the new target removes the EU opportunity and accounts for higher R&D spending. Omeros plans to request a reconsideration and an Ad Hoc Expert Panel review.
Omeros CorporationEuropean CHMP negative opinion on narsoplimab marketing application