Zacks Investment Research Upgrades OptiNose (NASDAQ:OPTN) to “Buy”

Zacks Investment Research upgraded shares of OptiNose (NASDAQ:OPTN) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $7.50 target price on the stock.

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 analysts have also issued reports on OPTN. Cantor Fitzgerald reiterated a buy rating and set a $27.00 target price on shares of Spero Therapeutics in a research report on Thursday, May 9th. Piper Jaffray Companies set a $29.00 target price on OptiNose and gave the company a buy rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. OptiNose currently has an average rating of Buy and an average target price of $23.30.

Shares of NASDAQ:OPTN opened at $8.00 on Wednesday. OptiNose has a 1 year low of $5.66 and a 1 year high of $28.04. The company has a debt-to-equity ratio of 0.79, a quick ratio of 6.74 and a current ratio of 6.95. The company’s 50 day simple moving average is $7.22.

OptiNose (NASDAQ:OPTN) last announced its earnings results on Thursday, May 9th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.35 million. Sell-side analysts expect that OptiNose will post -2.97 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in OptiNose by 8.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,503,969 shares of the company’s stock valued at $25,791,000 after purchasing an additional 187,174 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in OptiNose by 3.5% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 493,860 shares of the company’s stock valued at $5,087,000 after purchasing an additional 16,855 shares in the last quarter. 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 valued at $14,571,000 after purchasing an additional 349,820 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in OptiNose by 1,569.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,006 shares of the company’s stock valued at $41,000 after purchasing an additional 3,766 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in OptiNose by 19.1% in the 4th quarter. American Century Companies Inc. now owns 242,616 shares of the company’s stock valued at $1,504,000 after purchasing an additional 38,842 shares in the last quarter. Institutional investors own 63.68% 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, 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.

Recommended Story: How are capital gains distributions different for tax-deferred account?

Get a free copy of the Zacks research report on OptiNose (OPTN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for OptiNose Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OptiNose and related companies with MarketBeat.com's FREE daily email newsletter.