Zacks Investment Research Downgrades OptiNose (OPTN) to Sell

Zacks Investment Research cut shares of OptiNose (NASDAQ:OPTN) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

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. “

Several other research analysts have also recently commented on OPTN. Cantor Fitzgerald reissued a buy rating and set a $27.00 price target on shares of OptiNose in a research report on Thursday, May 9th. Piper Jaffray Companies set a $29.00 price target on OptiNose and gave the company a buy rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada reduced their price target on OptiNose to $25.00 and set an outperform rating for the company in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $27.80.

NASDAQ OPTN traded down $0.39 during trading hours on Wednesday, hitting $9.17. 272,478 shares of the company traded hands, compared to its average volume of 131,654. OptiNose has a twelve month low of $5.66 and a twelve month high of $30.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 8.01 and a current ratio of 6.95. The stock has a market capitalization of $394.49 million, a PE ratio of -3.42 and a beta of 0.78.

OptiNose (NASDAQ:OPTN) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. OptiNose had a negative return on equity of 81.04% and a negative net margin of 983.22%. The firm had revenue of $4.48 million during the quarter, compared to analysts’ expectations of $4.35 million. As a group, research analysts forecast that OptiNose will post -2.91 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RTW Investments LP bought a new stake in OptiNose in the fourth quarter valued at approximately $493,000. BlackRock Inc. raised its stake in OptiNose by 8.0% in the third quarter. BlackRock Inc. now owns 1,076,798 shares of the company’s stock valued at $13,384,000 after buying an additional 79,541 shares during the period. Two Sigma Advisers LP bought a new stake in OptiNose in the fourth quarter valued at approximately $135,000. Kornitzer Capital Management Inc. KS raised its stake in OptiNose by 1,262.9% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 477,005 shares of the company’s stock valued at $2,957,000 after buying an additional 442,005 shares during the period. Finally, Broadfin Capital LLC bought a new stake in OptiNose in the fourth quarter valued at approximately $4,406,000. 58.26% of the stock is owned by hedge funds and other 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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