OptiNose (OPTN) Hits New 52-Week Low at $9.78

OptiNose Inc (NASDAQ:OPTN)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $9.78 and last traded at $10.04, with a volume of 5356 shares trading hands. The stock had previously closed at $10.43.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised OptiNose from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Wednesday, July 18th. Piper Jaffray Companies reissued a “buy” rating and set a $34.00 target price on shares of OptiNose in a research note on Wednesday, July 18th. Cantor Fitzgerald assumed coverage on OptiNose in a research note on Tuesday, August 7th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, BMO Capital Markets reduced their target price on OptiNose from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. OptiNose currently has an average rating of “Buy” and an average price target of $29.67.

The company has a quick ratio of 10.82, a current ratio of 11.03 and a debt-to-equity ratio of 0.44. The company has a market cap of $512.37 million and a PE ratio of -1.95.

OptiNose (NASDAQ:OPTN) last posted its earnings results on Tuesday, August 14th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.77) by $0.13. The business had revenue of $1.27 million for the quarter, compared to analysts’ expectations of $1.01 million. As a group, analysts anticipate that OptiNose Inc will post -2.94 EPS for the current fiscal year.

In other OptiNose news, insider Thomas Edward Gibbs bought 2,000 shares of OptiNose stock in a transaction dated Wednesday, August 15th. The shares were purchased at an average cost of $12.69 per share, with a total value of $25,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter K. Miller purchased 10,752 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average price of $14.32 per share, for a total transaction of $153,968.64. The disclosure for this purchase can be found here. 67.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPTN. BlackRock Inc. boosted its position in shares of OptiNose by 336.0% during the second quarter. BlackRock Inc. now owns 997,257 shares of the company’s stock valued at $27,903,000 after purchasing an additional 768,521 shares in the last quarter. FMR LLC boosted its position in shares of OptiNose by 7.7% during the second quarter. FMR LLC now owns 6,117,208 shares of the company’s stock valued at $171,160,000 after purchasing an additional 437,747 shares in the last quarter. Waddell & Reed Financial Inc. boosted its position in shares of OptiNose by 128.2% during the second quarter. Waddell & Reed Financial Inc. now owns 735,140 shares of the company’s stock valued at $20,569,000 after purchasing an additional 412,950 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of OptiNose during the second quarter valued at approximately $9,047,000. Finally, Wells Fargo & Company MN boosted its position in shares of OptiNose by 60.0% during the second quarter. Wells Fargo & Company MN now owns 454,160 shares of the company’s stock valued at $12,708,000 after purchasing an additional 170,382 shares in the last quarter. Institutional investors own 46.83% of the company’s stock.

OptiNose Company Profile (NASDAQ:OPTN)

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 potent anti-inflammatory corticosteroid for the treatment of chronic rhinosinusitis with and without nasal polyps.

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