OptiNose’s (OPTN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of OptiNose (NASDAQ:OPTN) in a research note released on Wednesday morning,Benzinga reports. They currently have a $5.00 target price on the stock. HC Wainwright also issued estimates for OptiNose’s FY2024 earnings at ($0.18) EPS, FY2025 earnings at ($0.03) EPS, FY2026 earnings at $0.08 EPS, FY2027 earnings at $0.23 EPS and FY2028 earnings at $0.35 EPS.

OptiNose Stock Down 4.4 %

Shares of NASDAQ OPTN opened at $0.44 on Wednesday. The company has a market capitalization of $65.61 million, a PE ratio of -1.55 and a beta of -0.07. OptiNose has a twelve month low of $0.41 and a twelve month high of $2.10. The firm has a fifty day simple moving average of $0.74 and a 200 day simple moving average of $0.95.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of OptiNose by 33.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after acquiring an additional 326,918 shares during the last quarter. State Street Corp lifted its position in OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after purchasing an additional 42,500 shares during the last quarter. Stonepine Capital Management LLC grew its stake in OptiNose by 142.1% in the 3rd quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock worth $3,811,000 after buying an additional 3,338,580 shares in the last quarter. FMR LLC increased its holdings in shares of OptiNose by 3.2% in the 3rd quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after buying an additional 518,610 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of OptiNose by 5.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock valued at $2,061,000 after buying an additional 155,329 shares in the last quarter. 85.60% of the stock is currently 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, 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.