Zacks Investment Research Upgrades OptiNose (NASDAQ:OPTN) to “Buy”

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Zacks Investment Research upgraded shares of OptiNose (NASDAQ:OPTN) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $7.50 target price on the stock.

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 also recently issued reports about the company. Cantor Fitzgerald reissued a buy rating and set a $27.00 price objective on shares of Spero Therapeutics in a research report on Thursday, May 9th. Piper Jaffray Companies set a $29.00 price objective on OptiNose and gave the stock a buy rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. OptiNose currently has an average rating of Buy and an average price target of $23.30.

Shares of NASDAQ:OPTN opened at $8.00 on Wednesday. The business’s 50-day simple moving average is $7.22. The company has a debt-to-equity ratio of 0.79, a current ratio of 6.95 and a quick ratio of 6.74. OptiNose has a 12-month low of $5.66 and a 12-month high of $28.04.

OptiNose (NASDAQ:OPTN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The firm had revenue of $4.48 million during the quarter, compared to the consensus estimate of $4.35 million. OptiNose had a negative return on equity of 81.04% and a negative net margin of 983.22%. On average, sell-side analysts forecast that OptiNose will post -2.97 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in OptiNose by 58.5% in the fourth quarter. Rhumbline Advisers now owns 23,709 shares of the company’s stock valued at $147,000 after buying an additional 8,748 shares during the period. BlackRock Inc. raised its holdings in shares of OptiNose by 69.0% during the fourth quarter. BlackRock Inc. now owns 1,820,167 shares of the company’s stock valued at $11,285,000 after purchasing an additional 743,369 shares during the period. Stifel Financial Corp acquired a new position in shares of OptiNose during the fourth quarter valued at about $63,000. Geode Capital Management LLC raised its holdings in shares of OptiNose by 29.2% during the fourth quarter. Geode Capital Management LLC now owns 203,308 shares of the company’s stock valued at $1,260,000 after purchasing an additional 45,895 shares during the period. Finally, Broadfin Capital LLC acquired a new position in shares of OptiNose during the fourth quarter valued at about $4,406,000. 63.68% of the stock is 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 anti-inflammatory corticosteroid for the treatment of chronic rhinosinusitis with and without nasal polyps.

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