HC Wainwright Reiterates Neutral Rating for OptiNose (NASDAQ:OPTN)

OptiNose (NASDAQ:OPTN - Get Free Report)'s stock had its "neutral" rating reissued by stock analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $9.00 price target on the stock. HC Wainwright's price objective would indicate a potential downside of 7.12% from the stock's previous close.

A number of other equities analysts also recently issued reports on the stock. Lake Street Capital downgraded shares of OptiNose from a "buy" rating to a "hold" rating and cut their price target for the company from $17.00 to $9.00 in a report on Thursday, March 20th. Piper Sandler reaffirmed a "neutral" rating and issued a $9.00 target price (down from $15.00) on shares of OptiNose in a report on Friday, March 21st.

OptiNose Stock Up 1.8%

Shares of NASDAQ:OPTN opened at $9.69 on Monday. The company has a market cap of $98.13 million, a price-to-earnings ratio of -2.31 and a beta of -0.88. OptiNose has a fifty-two week low of $4.82 and a fifty-two week high of $20.03. The firm's 50-day simple moving average is $8.80 and its 200-day simple moving average is $7.44.

OptiNose (NASDAQ:OPTN - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.27). The firm had revenue of $18.51 million during the quarter, compared to analyst estimates of $17.70 million. On average, research analysts forecast that OptiNose will post -3.22 EPS for the current year.

Insider Activity

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total transaction of $33,729.04. Following the completion of the transaction, the chief executive officer now directly owns 126,931 shares in the company, valued at approximately $671,464.99. This trade represents a 4.78% decrease in their position. The transaction 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 90 days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of OptiNose

Several institutional investors and hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in shares of OptiNose during the 1st quarter worth approximately $40,000. Virtu Financial LLC purchased a new position in OptiNose during the first quarter worth $97,000. PenderFund Capital Management Ltd. acquired a new position in shares of OptiNose in the first quarter worth $172,000. Deltec Asset Management LLC purchased a new stake in shares of OptiNose in the first quarter valued at $206,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of OptiNose during the first quarter valued at $558,000. Hedge funds and other 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.

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