OptiNose (NASDAQ:OPTN) Given New $1.00 Price Target at Piper Sandler

OptiNose (NASDAQ:OPTN) had its target price lowered by Piper Sandler from $3.00 to $1.00 in a report published on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of OptiNose in a research report on Wednesday.

OptiNose Price Performance

Shares of OPTN stock opened at $0.51 on Wednesday. The company has a market cap of $76.47 million, a PE ratio of -1.81 and a beta of -0.07. OptiNose has a 1 year low of $0.50 and a 1 year high of $2.10. The stock’s 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $0.96.

Hedge Funds Weigh In On OptiNose

A number of large investors have recently added to or reduced their stakes in OPTN. Stonepine Capital Management LLC increased its position in shares of OptiNose by 142.1% during the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,338,580 shares in the last quarter. FMR LLC increased its position in OptiNose by 3.2% during the 3rd quarter. FMR LLC now owns 16,541,849 shares of the company’s stock valued at $11,083,000 after buying an additional 518,610 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in OptiNose by 5.3% in the third 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 during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of OptiNose during the third quarter worth $61,000. Finally, Easterly Investment Partners LLC raised its stake in shares of OptiNose by 5.0% in the third quarter. Easterly Investment Partners LLC now owns 2,359,239 shares of the company’s stock worth $1,581,000 after purchasing an additional 113,015 shares during the last quarter. 85.60% of the stock is currently owned by 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.