OptiNose’s (OPTN) Neutral Rating Reaffirmed at HC Wainwright

OptiNose (NASDAQ:OPTN)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $9.00 price objective on the stock. HC Wainwright’s price target points to a potential downside of 6.25% from the stock’s current price.

OPTN has been the topic of a number of other reports. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down from $15.00) on shares of OptiNose in a research note on Friday, March 21st. Lake Street Capital lowered OptiNose from a “buy” rating to a “hold” rating and reduced their target price for the company from $17.00 to $9.00 in a report on Thursday, March 20th.

OptiNose Stock Performance

Shares of OPTN opened at $9.60 on Monday. OptiNose has a fifty-two week low of $4.82 and a fifty-two week high of $20.03. The business has a 50-day moving average of $8.89 and a 200 day moving average of $7.42. The firm has a market cap of $97.22 million, a P/E ratio of -2.29 and a beta of -0.88.

OptiNose (NASDAQ:OPTN) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.27). The company had revenue of $18.51 million for the quarter, compared to the consensus estimate of $17.70 million. As a group, research analysts predict that OptiNose will post -3.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of OptiNose stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $5.29, for a total transaction of $33,729.04. Following the completion of the sale, the chief executive officer now owns 126,931 shares in the company, valued at approximately $671,464.99. This trade represents a 4.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 8,213 shares of company stock worth $43,643 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OptiNose

A number of institutional investors and hedge funds have recently bought and sold shares of OPTN. Acorn Capital Advisors LLC bought a new position in shares of OptiNose in the 4th quarter worth $2,824,000. FNY Investment Advisers LLC purchased a new position in OptiNose in the first quarter worth $40,000. Deltec Asset Management LLC purchased a new position in OptiNose in the first quarter worth $206,000. Easterly Investment Partners LLC increased its stake in OptiNose by 235.7% in the first quarter. Easterly Investment Partners LLC now owns 156,666 shares of the company’s stock valued at $1,437,000 after acquiring an additional 109,999 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in OptiNose during the first quarter valued at about $97,000. 85.60% of the stock is owned by hedge funds and other institutional investors.

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.