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

OptiNose (NASDAQ:OPTN) issued its quarterly earnings data 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 company had revenue of $21.47 million for the quarter, compared to analysts’ expectations of $21.02 million.

OptiNose Price Performance

Shares of NASDAQ OPTN traded down $0.01 during midday trading on Thursday, reaching $9.16. 36,256 shares of the stock traded hands, compared to its average volume of 61,582. The company’s 50 day moving average is $6.19 and its 200 day moving average is $8.01. OptiNose has a one year low of $4.82 and a one year high of $22.50. The stock has a market capitalization of $92.15 million, a PE ratio of -2.18 and a beta of -0.30.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OPTN. Lake Street Capital lowered OptiNose from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $9.00 in a research report on Thursday, March 20th. Piper Sandler reissued a “neutral” rating and issued a $9.00 target price (down previously from $15.00) on shares of OptiNose in a report on Friday, March 21st. Finally, HC Wainwright restated a “neutral” rating and set a $9.00 target price (down previously from $18.00) on shares of OptiNose in a research note on Friday, March 21st.

Insiders Place Their Bets

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of OptiNose stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total transaction of $33,729.04. Following the completion of the sale, the chief executive officer now 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 filing with the SEC, which is available through the SEC website. Insiders sold a total of 8,213 shares of company stock valued at $43,643 over the last 90 days. Insiders own 2.30% of the company’s stock.

OptiNose Company Profile

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.