EARN25

Omeros Shorts Squeezed as Stock Pops

One analyst thinks narsoplimab approval could drive OMER stock higher

Oct 28, 2019 at 2:24 PM
facebook X logo linkedin


Omeros Corporation (NASDAQ:OMER) earlier said it initiated the rolling submission process for a Biologics License Application (BLA) to the U.S. Food and Drug Administration for narsoplimab, its leading antibody to treat hematopoietic stem cell transplant-associated thrombotic microangiopathy (HSCT-TMA). The therapy already holds an orphan drug designation from the FDA.

Cantor Fitzgerald was quick to weigh in, saying if narsoplimab is approved, it could "generate meaningful revenue for OMER," and "unlock significant value in [the] shares." The brokerage firm -- which has a "overweight" rating and $26 price target on the equity -- said the "risk-reward is to the upside," and that Omeros stock creates a "compelling investment opportunity."

Against this backdrop, OMER stock is up 5.3% to trade at $16.77, set to close above its 30-day moving average for the first time since Sept. 17. The shares have been climbing since a mid-October bounce off familiar support near $14.80, and are now up nearly 50% year-to-date.

Should the shares stay hot, shorts could be encouraged to throw in the towel -- which may translate into buying power for OMER. Short interest jumped 4.1% in the most recent reporting period to 11.78 million shares, representing 25.4% of the stock's available float, or 27.9 times the average daily pace of trading.

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!