OptiNose (NASDAQ:OPTN) Price Target Cut to $1.00 by Analysts at Piper Sandler

OptiNose (NASDAQ:OPTN) had its target price cut by investment analysts at Piper Sandler from $3.00 to $1.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 79.66% from the company’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of OptiNose in a research note on Wednesday.

OptiNose Stock Down 7.2 %

Shares of OPTN traded down $0.04 during mid-day trading on Wednesday, hitting $0.56. 549,139 shares of the company’s stock were exchanged, compared to its average volume of 711,027. The firm has a fifty day moving average of $0.77 and a two-hundred day moving average of $0.96. OptiNose has a twelve month low of $0.55 and a twelve month high of $2.10. The stock has a market cap of $83.92 million, a price-to-earnings ratio of -1.99 and a beta of -0.07.

Institutional Investors Weigh In On OptiNose

A number of hedge funds have recently made changes to their positions in OPTN. Nantahala Capital Management LLC increased its position in shares of OptiNose by 442.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company’s stock worth $14,425,000 after purchasing an additional 10,944,444 shares in the last quarter. Great Point Partners LLC increased its position in shares of OptiNose by 56.2% during the 2nd quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock worth $14,276,000 after purchasing an additional 4,940,779 shares in the last quarter. Rosalind Advisors Inc. increased its position in shares of OptiNose by 66.2% during the 2nd quarter. Rosalind Advisors Inc. now owns 7,547,148 shares of the company’s stock worth $7,849,000 after purchasing an additional 3,005,659 shares in the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of OptiNose during the 2nd quarter worth about $2,444,000. Finally, FMR LLC increased its position in shares of OptiNose by 3.2% during the 3rd quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after purchasing an additional 518,610 shares in the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.

About OptiNose

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.