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

Zacks Investment Research upgraded shares of OptiNose (NASDAQ:OPTN) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. The brokerage currently has $4.75 price target 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 analysts also recently commented on OPTN. Royal Bank of Canada reiterated a buy rating and issued a $17.00 target price on shares of OptiNose in a report on Wednesday, March 25th. Cantor Fitzgerald dropped their target price on shares of OptiNose from $27.00 to $21.00 and set an overweight rating on the stock in a report on Thursday, March 5th. BidaskClub downgraded shares of OptiNose from a sell rating to a strong sell rating in a report on Wednesday, March 4th. ValuEngine upgraded shares of OptiNose from a hold rating to a buy rating in a report on Wednesday, February 26th. Finally, Piper Sandler reiterated a buy rating and issued a $24.00 target price on shares of OptiNose in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $19.29.

Shares of NASDAQ:OPTN traded up $0.24 during trading on Wednesday, reaching $4.59. The company had a trading volume of 77,156 shares, compared to its average volume of 389,564. The firm’s fifty day moving average is $4.03 and its 200 day moving average is $6.91. The firm has a market capitalization of $199.69 million, a PE ratio of -1.79 and a beta of 0.89. OptiNose has a twelve month low of $3.28 and a twelve month high of $11.66. The company has a debt-to-equity ratio of 2.98, a quick ratio of 4.79 and a current ratio of 4.96.

OptiNose (NASDAQ:OPTN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.03. The company had revenue of $7.06 million during the quarter, compared to analyst estimates of $7.56 million. OptiNose had a negative net margin of 295.66% and a negative return on equity of 209.89%. Equities analysts predict that OptiNose will post -2.16 earnings per share for the current fiscal year.

In other news, Director Joseph C. Scodari purchased 8,700 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $5.70 per share, for a total transaction of $49,590.00. Following the completion of the acquisition, the director now directly owns 19,030 shares of the company’s stock, valued at $108,471. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 44.30% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of OptiNose by 181.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,255 shares of the company’s stock valued at $33,000 after acquiring an additional 4,677 shares during the period. Marshall Wace LLP acquired a new position in OptiNose in the 4th quarter valued at approximately $35,000. BNP Paribas Arbitrage SA increased its stake in OptiNose by 175.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,036 shares of the company’s stock valued at $36,000 after buying an additional 5,116 shares during the period. Two Sigma Advisers LP acquired a new position in OptiNose in the 1st quarter valued at approximately $65,000. Finally, Marshall Financial Group Inc. ADV acquired a new position in OptiNose in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 70.59% 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.

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