OptiNose (NASDAQ:OPTN) Releases Quarterly Earnings Results, Beats Expectations By $0.67 EPS

OptiNose (NASDAQ:OPTN) issued its earnings results on Wednesday. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.67, Zacks reports. The firm had revenue of $21.47 million for the quarter, compared to analyst estimates of $21.02 million.

OptiNose Price Performance

NASDAQ:OPTN traded down $0.01 during trading hours on Thursday, hitting $9.16. The stock had a trading volume of 36,256 shares, compared to its average volume of 61,582. The company has a 50 day simple moving average of $6.19 and a two-hundred day simple moving average of $8.01. The firm has a market capitalization of $92.15 million, a price-to-earnings ratio of -2.18 and a beta of -0.30. OptiNose has a one year low of $4.82 and a one year high of $22.50.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price objective (down from $15.00) on shares of OptiNose in a report on Friday, March 21st. Lake Street Capital cut shares of OptiNose from a “buy” rating to a “hold” rating and cut their price target for the stock from $17.00 to $9.00 in a report on Thursday, March 20th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $9.00 price objective (down previously from $18.00) on shares of OptiNose in a research note on Friday, March 21st.

Insider Buying and Selling

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total value of $33,729.04. Following the completion of the transaction, the chief executive officer now owns 126,931 shares of the company’s stock, valued at $671,464.99. The trade was a 4.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 8,213 shares of company stock worth $43,643 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

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.