Zacks Investment Research Lowers OptiNose (OPTN) to Sell

Zacks Investment Research cut shares of OptiNose (NASDAQ:OPTN) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “OptiNose Inc. is a specialty pharmaceutical company. It focused on the development and commercialization of products for patients treated by ear, nose and throat or ENT and allergy specialists. The company’s lead product consists of XHANCE nasal polyps, XHANCE Chronic sinusitis, OPN-300, OPN- 021 and AVP-825 which are in clinical stage. OptiNose Inc. is headquartered in Pennsylvania, USA. “

A number of other research firms have also recently weighed in on OPTN. Royal Bank of Canada lowered their price objective on OptiNose to $25.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. Cantor Fitzgerald reissued a buy rating and issued a $27.00 price target on shares of OptiNose in a report on Monday, February 4th. Finally, Piper Jaffray Companies set a $29.00 price target on OptiNose and gave the stock a buy rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. OptiNose has an average rating of Buy and an average price target of $27.80.

OPTN stock opened at $9.17 on Wednesday. OptiNose has a twelve month low of $5.66 and a twelve month high of $30.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 8.01 and a current ratio of 6.95. The stock has a market cap of $394.49 million, a PE ratio of -3.42 and a beta of 0.78.

OptiNose (NASDAQ:OPTN) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.70) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.01. OptiNose had a negative return on equity of 81.04% and a negative net margin of 983.22%. The firm had revenue of $4.48 million for the quarter, compared to analysts’ expectations of $4.35 million. As a group, equities analysts forecast that OptiNose will post -2.91 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of OPTN. BlackRock Inc. lifted its holdings in OptiNose by 69.0% in the 4th quarter. BlackRock Inc. now owns 1,820,167 shares of the company’s stock worth $11,285,000 after purchasing an additional 743,369 shares in the last quarter. Broadfin Capital LLC purchased a new position in OptiNose in the 4th quarter worth approximately $4,406,000. JPMorgan Chase & Co. lifted its holdings in OptiNose by 39.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,874,231 shares of the company’s stock worth $23,297,000 after purchasing an additional 526,501 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in OptiNose by 1,262.9% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 477,005 shares of the company’s stock worth $2,957,000 after purchasing an additional 442,005 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted its holdings in OptiNose by 32.9% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,414,682 shares of the company’s stock worth $14,571,000 after purchasing an additional 349,820 shares in the last quarter. 58.26% of the stock is currently owned by institutional investors.

OptiNose Company Profile

OptiNose, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of products for patients treated by ear, nose, and throat; and allergy specialists in the United States. The company offers XHANCE, a therapeutic product utilizing its proprietary optinose exhalation delivery system that delivers a topically-acting and anti-inflammatory corticosteroid for the treatment of chronic rhinosinusitis with and without nasal polyps.

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