OptiNose (OPTN) Lowered to Sell at Zacks Investment Research

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OptiNose (NASDAQ:OPTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

Other analysts have also recently issued reports about the stock. ValuEngine cut shares of OptiNose from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $27.00 target price on shares of OptiNose in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.75.

Shares of NASDAQ:OPTN opened at $7.27 on Wednesday. The firm has a market cap of $289.42 million, a PE ratio of -1.29 and a beta of 0.48. The company has a current ratio of 10.44, a quick ratio of 10.13 and a debt-to-equity ratio of 0.51. OptiNose has a 52 week low of $5.66 and a 52 week high of $30.00.

OptiNose (NASDAQ:OPTN) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.61) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.11. The company had revenue of $1.90 million for the quarter, compared to analyst estimates of $1.57 million. Equities analysts anticipate that OptiNose will post -2.84 earnings per share for the current year.

In other OptiNose news, Director Joseph C. Scodari bought 6,430 shares of OptiNose stock in a transaction that occurred on Wednesday, December 12th. The shares were bought at an average price of $7.89 per share, with a total value of $50,732.70. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Peter K. Miller bought 10,000 shares of OptiNose stock in a transaction that occurred on Thursday, December 13th. The shares were acquired at an average cost of $7.68 per share, for a total transaction of $76,800.00. The disclosure for this purchase can be found here. 67.80% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of OptiNose by 336.0% in the second quarter. BlackRock Inc. now owns 997,257 shares of the company’s stock valued at $27,903,000 after acquiring an additional 768,521 shares during the period. JPMorgan Chase & Co. increased its position in shares of OptiNose by 39.1% in the third quarter. JPMorgan Chase & Co. now owns 1,874,231 shares of the company’s stock valued at $23,297,000 after acquiring an additional 526,501 shares during the period. Foresite Capital Management IV LLC increased its position in shares of OptiNose by 57.1% in the third quarter. Foresite Capital Management IV LLC now owns 1,458,545 shares of the company’s stock valued at $18,130,000 after acquiring an additional 530,000 shares during the period. FMR LLC increased its position in shares of OptiNose by 7.7% in the second quarter. FMR LLC now owns 6,117,208 shares of the company’s stock valued at $171,160,000 after acquiring an additional 437,747 shares during the period. Finally, Bank of America Corp DE increased its position in shares of OptiNose by 46.7% in the second quarter. Bank of America Corp DE now owns 34,900 shares of the company’s stock valued at $976,000 after acquiring an additional 11,109 shares during the period. 50.32% of the stock is currently owned by institutional investors.

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

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