Piper Sandler Lowers OptiNose (NASDAQ:OPTN) Price Target to $1.00

OptiNose (NASDAQ:OPTN) had its price target lowered by stock analysts at Piper Sandler from $3.00 to $1.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 119.78% from the company’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of OptiNose in a report on Wednesday.

OptiNose Price Performance

OptiNose stock opened at $0.46 on Wednesday. OptiNose has a 1 year low of $0.44 and a 1 year high of $2.10. The firm’s 50 day moving average price is $0.76 and its 200-day moving average price is $0.96. The stock has a market cap of $68.63 million, a P/E ratio of -1.62 and a beta of -0.07.

Institutional Trading of OptiNose

A number of large investors have recently added to or reduced their stakes in OPTN. Vanguard Group Inc. boosted its position in shares of OptiNose by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,242,610 shares of the company’s stock valued at $6,194,000 after acquiring an additional 62,906 shares during the last quarter. Oracle Investment Management Inc. bought a new position in OptiNose during the first quarter valued at $474,000. Rosalind Advisors Inc. grew its stake in shares of OptiNose by 66.2% in the 2nd quarter. Rosalind Advisors Inc. now owns 7,547,148 shares of the company’s stock worth $7,849,000 after buying an additional 3,005,659 shares in the last quarter. Easterly Investment Partners LLC increased its holdings in shares of OptiNose by 10.2% in the 2nd quarter. Easterly Investment Partners LLC now owns 2,246,224 shares of the company’s stock worth $2,336,000 after buying an additional 208,185 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of OptiNose by 2.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,920,309 shares of the company’s stock worth $3,037,000 after buying an additional 81,233 shares during the last quarter. Institutional investors own 85.60% of the company’s stock.

About OptiNose

OptiNose, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of products for patients treated by ear, nose, throat, and allergy specialists in the United States. The company offers XHANCE, a therapeutic product utilizing its proprietary exhalation delivery system (EDS) that delivers a topically acting corticosteroid for the treatment of chronic rhinosinusitis with nasal polyps, as well as is in Phase IIIb clinical trial for treatment of chronic sinusitis; and Onzetra Xsail, a powder EDS device.