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

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

OptiNose Stock Down 0.1 %

NASDAQ OPTN traded down $0.01 during trading hours on Thursday, hitting $9.16. 36,256 shares of the company were exchanged, compared to its average volume of 61,582. The firm has a market cap of $92.15 million, a price-to-earnings ratio of -2.18 and a beta of -0.30. The company has a 50 day moving average of $6.19 and a two-hundred day moving average of $8.01. OptiNose has a 52-week low of $4.82 and a 52-week high of $22.50.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OPTN. HC Wainwright reaffirmed a “neutral” rating and set a $9.00 price objective (down previously from $18.00) on shares of OptiNose in a research note on Friday, March 21st. Piper Sandler reissued a “neutral” rating and set a $9.00 target price (down from $15.00) on shares of OptiNose in a research note on Friday, March 21st. Finally, Lake Street Capital lowered OptiNose from a “buy” rating to a “hold” rating and cut their price target for the company from $17.00 to $9.00 in a research note on Thursday, March 20th.

Insider Buying and Selling

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