OptiNose (NASDAQ:OPTN) Price Target Cut to $17.00 by Analysts at Lake Street Capital

OptiNose (NASDAQ:OPTN) had its price objective decreased by equities research analysts at Lake Street Capital from $45.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s target price indicates a potential upside of 174.41% from the stock’s previous close.

OPTN has been the subject of several other reports. Piper Sandler reduced their target price on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. HC Wainwright increased their price objective on shares of OptiNose from $5.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd.

OptiNose Stock Up 3.3 %

NASDAQ:OPTN traded up $0.20 during mid-day trading on Thursday, hitting $6.20. 21,102 shares of the company traded hands, compared to its average volume of 44,615. The stock’s fifty day moving average price is $7.00 and its 200-day moving average price is $11.23. The firm has a market cap of $62.32 million, a price-to-earnings ratio of -1.46 and a beta of -0.15. OptiNose has a one year low of $4.82 and a one year high of $31.50.

Hedge Funds Weigh In On OptiNose

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stonepine Capital Management LLC purchased a new stake in OptiNose in the 2nd quarter worth $2,444,000. Great Point Partners LLC boosted its stake in OptiNose by 56.2% during the second quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock valued at $14,276,000 after buying an additional 4,940,779 shares during the last quarter. XTX Topco Ltd purchased a new position in OptiNose during the 2nd quarter valued at approximately $88,000. Squarepoint Ops LLC increased its stake in OptiNose by 173.7% in the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock worth $178,000 after acquiring an additional 108,903 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of OptiNose by 2.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,920,309 shares of the company’s stock worth $3,037,000 after acquiring an additional 81,233 shares in the last quarter. 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.