H.C. Wainwright analyst Brandon Folkes lowered the firm's price target on Omeros to $33 from $40 and keeps a Buy rating on the shares after the "disappointing" negative CHMP opinion for Yartemlea. The news likely creates a near-term overhang, but is not "thesis-breaking," says the analyst, who views the the U.S. Yartemlea launch as still representing the primary value driver. The firm is removing the EU opportunity from its model and increasing go-forward R&D spending estimates, driving its lowered target.
