OptiNose (NASDAQ:OPTN) Issues Quarterly Earnings Results

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

OptiNose Stock Down 0.3 %

Shares of OPTN opened at $9.14 on Friday. OptiNose has a 52 week low of $4.82 and a 52 week high of $22.50. The stock has a market cap of $91.95 million, a P/E ratio of -2.18 and a beta of -0.30. The business’s 50 day moving average price is $6.25 and its 200-day moving average price is $8.02.

Wall Street Analysts Forecast Growth

OPTN has been the topic of several research reports. HC Wainwright reaffirmed a “neutral” rating and set a $9.00 price objective (down from $18.00) on shares of OptiNose in a research report on Friday, March 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price target (down from $15.00) on shares of OptiNose in a research note on Friday, March 21st. Finally, Lake Street Capital downgraded OptiNose from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $17.00 to $9.00 in a report on Thursday, March 20th.

Insider Buying and Selling at OptiNose

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total transaction of $33,729.04. Following the completion of the sale, the chief executive officer now directly owns 126,931 shares in the company, valued at approximately $671,464.99. This trade represents a 4.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 8,213 shares of company stock worth $43,643. 2.30% of the stock is owned by insiders.

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.