Northland Securities reaffirmed their buy rating on shares of Opiant Pharmaceuticals (NASDAQ:OPNT) in a report released on Thursday, AnalystRatings.com reports. Northland Securities currently has a $42.00 price target on the technology company’s stock.
Separately, TheStreet upgraded Opiant Pharmaceuticals from a d rating to a c- rating in a research report on Friday, August 30th.
Shares of NASDAQ:OPNT traded up $0.38 during trading on Thursday, hitting $15.80. 6,400 shares of the stock were exchanged, compared to its average volume of 20,137. The company has a market capitalization of $61.02 million, a price-to-earnings ratio of -2.23 and a beta of 0.31. Opiant Pharmaceuticals has a 1-year low of $9.98 and a 1-year high of $17.02. The company’s fifty day simple moving average is $15.06 and its 200-day simple moving average is $13.47.
Opiant Pharmaceuticals (NASDAQ:OPNT) last released its earnings results on Thursday, August 8th. The technology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.86. The company had revenue of $6.78 million during the quarter, compared to the consensus estimate of $3.91 million. Opiant Pharmaceuticals had a negative return on equity of 12.74% and a negative net margin of 11.78%. As a group, analysts forecast that Opiant Pharmaceuticals will post 1.05 earnings per share for the current year.
In other news, Director Michael Sinclair sold 60,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $12.52, for a total transaction of $751,200.00. Also, insider Phil Skolnick sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $15.80, for a total value of $158,000.00. In the last 90 days, insiders have sold 90,000 shares of company stock valued at $1,197,500. 30.88% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC raised its position in shares of Opiant Pharmaceuticals by 7.0% during the second quarter. Stonepine Capital Management LLC now owns 315,468 shares of the technology company’s stock worth $4,180,000 after acquiring an additional 20,574 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Opiant Pharmaceuticals during the third quarter worth $363,000. Morgan Stanley raised its position in shares of Opiant Pharmaceuticals by 1,000.3% during the second quarter. Morgan Stanley now owns 22,414 shares of the technology company’s stock worth $297,000 after acquiring an additional 20,377 shares during the last quarter. BlackRock Inc. raised its position in shares of Opiant Pharmaceuticals by 93.5% during the second quarter. BlackRock Inc. now owns 20,792 shares of the technology company’s stock worth $276,000 after acquiring an additional 10,045 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of Opiant Pharmaceuticals by 24.3% during the second quarter. Advisor Group Inc. now owns 4,600 shares of the technology company’s stock worth $61,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 20.82% of the company’s stock.
Opiant Pharmaceuticals Company Profile
Opiant Pharmaceuticals, Inc, a specialty pharmaceutical company, develops pharmacological treatments for substance use, addictive and eating disorders. The company offers NARCAN nasal spray, a treatment to reverse opioid overdoses. Its pipeline of product candidates includes treatments for eating disorders, including bulimia nervosa and binge eating disorders, alcohol use disorders, a long term treatment to prevent relapse for patients with opioid use disorders, cocaine use disorders, and a heroin vaccine.
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