Piper Sandler Reiterates Neutral Rating for OptiNose (NASDAQ:OPTN)

OptiNose (NASDAQ:OPTN)‘s stock had its “neutral” rating reaffirmed by equities researchers at Piper Sandler in a report issued on Friday,Benzinga reports. They currently have a $9.00 price target on the stock, down from their previous price target of $15.00. Piper Sandler’s price objective would suggest a potential downside of 1.32% from the company’s previous close.

OPTN has been the topic of several other research reports. Lake Street Capital lowered shares of OptiNose from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $17.00 to $9.00 in a research note on Thursday. HC Wainwright reissued a “neutral” rating and set a $9.00 price objective (down previously from $18.00) on shares of OptiNose in a research note on Friday.

OptiNose Stock Down 0.3 %

Shares of OPTN traded down $0.03 during trading hours on Friday, reaching $9.12. 194,837 shares of the company traded hands, compared to its average volume of 59,965. The company’s fifty day moving average price is $5.88 and its two-hundred day moving average price is $8.22. The company has a market capitalization of $91.75 million, a price-to-earnings ratio of -2.17 and a beta of -0.30. OptiNose has a 12 month low of $4.82 and a 12 month high of $25.80.

Insider Activity

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total transaction of $33,729.04. Following the sale, the chief executive officer now owns 126,931 shares in the company, valued at $671,464.99. This represents a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have 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 insiders.

Institutional Investors Weigh In On OptiNose

A number of institutional investors have recently made changes to their positions in OPTN. GSA Capital Partners LLP purchased a new stake in shares of OptiNose during the third quarter valued at approximately $61,000. Massachusetts Financial Services Co. MA lifted its position in OptiNose by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock valued at $2,061,000 after purchasing an additional 155,329 shares during the period. FMR LLC lifted its position in OptiNose by 3.2% during the third quarter. FMR LLC now owns 16,541,849 shares of the company’s stock valued at $11,083,000 after purchasing an additional 518,610 shares during the period. Stonepine Capital Management LLC lifted its position in OptiNose by 142.1% during the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,338,580 shares during the period. Finally, State Street Corp lifted its position in OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after purchasing an additional 42,500 shares during the period. Hedge funds and other institutional investors own 85.60% of the company’s stock.

OptiNose Company Profile

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.