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

OptiNose (NASDAQ:OPTN) issued its earnings results on Wednesday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.67, Zacks reports. The firm had revenue of $21.47 million during the quarter, compared to the consensus estimate of $21.02 million.

OptiNose Trading Down 0.1 %

OPTN traded down $0.01 on Thursday, reaching $9.16. The stock had a trading volume of 36,256 shares, compared to its average volume of 61,582. The firm has a 50-day moving average of $6.19 and a 200-day moving average of $8.01. The company has a market capitalization of $92.15 million, a price-to-earnings ratio of -2.18 and a beta of -0.30. OptiNose has a fifty-two week low of $4.82 and a fifty-two week high of $22.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Lake Street Capital cut OptiNose from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $9.00 in a report on Thursday, March 20th. 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. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $9.00 price objective (down from $18.00) on shares of OptiNose in a report on Friday, March 21st.

Insider Activity

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

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.