Brokerages predict that Opiant Pharmaceuticals Inc (NASDAQ:OPNT) will post sales of $5.73 million for the current quarter, Zacks reports. Two analysts have provided estimates for Opiant Pharmaceuticals’ earnings, with the highest sales estimate coming in at $5.90 million and the lowest estimate coming in at $5.55 million. Opiant Pharmaceuticals posted sales of $4.37 million during the same quarter last year, which suggests a positive year over year growth rate of 31.1%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, November 12th.
According to Zacks, analysts expect that Opiant Pharmaceuticals will report full-year sales of $31.56 million for the current year, with estimates ranging from $25.20 million to $37.91 million. For the next year, analysts forecast that the firm will post sales of $29.93 million, with estimates ranging from $23.05 million to $36.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Opiant Pharmaceuticals.
Opiant Pharmaceuticals (NASDAQ:OPNT) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.86. Opiant Pharmaceuticals had a negative return on equity of 12.74% and a negative net margin of 11.78%. The company had revenue of $6.78 million for the quarter, compared to analyst estimates of $3.91 million.
Several analysts recently weighed in on OPNT shares. Northland Securities restated a “buy” rating and set a $42.00 price target on shares of Opiant Pharmaceuticals in a report on Friday, October 18th. TheStreet upgraded Opiant Pharmaceuticals from a “d” rating to a “c-” rating in a report on Friday, August 30th.
In related news, Director Michael Sinclair sold 60,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $12.52, for a total transaction of $751,200.00. Also, insider Phil Skolnick sold 10,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.15, for a total value of $141,500.00. Following the completion of the sale, the insider now owns 10,000 shares in the company, valued at approximately $141,500. The disclosure for this sale can be found here. Insiders have sold a total of 80,000 shares of company stock worth $1,039,500 in the last 90 days. 30.88% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in OPNT. Wedge Capital Management L L P NC purchased a new stake in Opiant Pharmaceuticals in the third quarter worth $363,000. Stonepine Capital Management LLC increased its stake in Opiant Pharmaceuticals by 7.0% in the second quarter. Stonepine Capital Management LLC now owns 315,468 shares of the technology company’s stock worth $4,180,000 after purchasing an additional 20,574 shares during the period. Morgan Stanley increased its stake in Opiant Pharmaceuticals by 1,000.3% in the second quarter. Morgan Stanley now owns 22,414 shares of the technology company’s stock worth $297,000 after purchasing an additional 20,377 shares during the period. BlackRock Inc. increased its stake in Opiant Pharmaceuticals by 93.5% in the second quarter. BlackRock Inc. now owns 20,792 shares of the technology company’s stock worth $276,000 after purchasing an additional 10,045 shares during the period. Finally, Advisor Group Inc. increased its stake in Opiant Pharmaceuticals by 24.3% in the second quarter. Advisor Group Inc. now owns 4,600 shares of the technology company’s stock worth $61,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 20.82% of the company’s stock.
NASDAQ:OPNT opened at $15.06 on Thursday. The stock’s fifty day moving average is $15.09 and its 200 day moving average is $13.44. Opiant Pharmaceuticals has a fifty-two week low of $9.98 and a fifty-two week high of $17.85. The firm has a market capitalization of $62.15 million, a PE ratio of -2.12 and a beta of 0.31.
Opiant Pharmaceuticals Company Profile
Opiant Pharmaceuticals, Inc, a specialty pharmaceutical company, develops pharmacological treatments for substance use, addictive and eating disorders. The company offers NARCAN nasal spray, a treatment to reverse opioid overdoses. Its pipeline of product candidates includes treatments for eating disorders, including bulimia nervosa and binge eating disorders, alcohol use disorders, a long term treatment to prevent relapse for patients with opioid use disorders, cocaine use disorders, and a heroin vaccine.
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