Piper Sandler Has Lowered Expectations for OptiNose (NASDAQ:OPTN) Stock Price

OptiNose (NASDAQ:OPTN) had its price target cut by investment analysts at Piper Sandler from $3.00 to $1.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 119.78% from the company’s current price.

Separately, HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of OptiNose in a research note on Wednesday.

OptiNose Stock Down 10.3 %

Shares of NASDAQ:OPTN opened at $0.46 on Wednesday. The firm’s 50 day moving average price is $0.76 and its 200-day moving average price is $0.96. The stock has a market capitalization of $68.63 million, a PE ratio of -1.62 and a beta of -0.07. OptiNose has a twelve month low of $0.44 and a twelve month high of $2.10.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Stonepine Capital Management LLC increased its holdings in OptiNose by 142.1% in the 3rd quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock worth $3,811,000 after acquiring an additional 3,338,580 shares in the last quarter. FMR LLC increased its stake in shares of OptiNose by 3.2% in the third quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after purchasing an additional 518,610 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of OptiNose by 5.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock valued at $2,061,000 after purchasing an additional 155,329 shares during the period. GSA Capital Partners LLP bought a new stake in shares of OptiNose during the 3rd quarter valued at $61,000. Finally, Easterly Investment Partners LLC lifted its stake in shares of OptiNose by 5.0% during the 3rd quarter. Easterly Investment Partners LLC now owns 2,359,239 shares of the company’s stock valued at $1,581,000 after buying an additional 113,015 shares in the last quarter. 85.60% of the stock is owned by hedge funds and other institutional investors.

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.