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

OptiNose (NASDAQ:OPTN) released its quarterly earnings data on Wednesday. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.67, Zacks reports. The business had revenue of $21.47 million for the quarter, compared to analysts’ expectations of $21.02 million.

OptiNose Trading Down 0.3 %

OPTN opened at $9.14 on Friday. The firm’s 50 day simple moving average is $6.25 and its two-hundred day simple moving average is $8.02. The company has a market capitalization of $91.95 million, a PE ratio of -2.18 and a beta of -0.30. OptiNose has a 1-year low of $4.82 and a 1-year high of $22.50.

Insider Activity

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of OptiNose stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $5.29, for a total transaction of $33,729.04. Following the transaction, the chief executive officer now directly owns 126,931 shares in the company, valued at approximately $671,464.99. The trade was a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 8,213 shares of company stock valued at $43,643 in the last 90 days. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OPTN shares. Lake Street Capital lowered shares of OptiNose from a “buy” rating to a “hold” rating and reduced their price target for the stock from $17.00 to $9.00 in a research note on Thursday, March 20th. HC Wainwright reiterated a “neutral” rating and set a $9.00 target price (down from $18.00) on shares of OptiNose in a research note on Friday, March 21st. Finally, Piper Sandler restated 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.

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.