Northland Securities restated their buy rating on shares of Opiant Pharmaceuticals (NASDAQ:OPNT) in a report published on Thursday morning, AnalystRatings.com reports. They currently have a $42.00 target price on the technology company’s stock.
Separately, TheStreet upgraded Opiant Pharmaceuticals from a d rating to a c- rating in a research note on Friday, August 30th.
Shares of NASDAQ:OPNT traded up $0.38 during trading on Thursday, hitting $15.80. 6,400 shares of the company were exchanged, compared to its average volume of 20,137. The firm has a fifty day moving average price of $15.06 and a two-hundred day moving average price of $13.47. The stock has a market cap of $61.02 million, a price-to-earnings ratio of -2.23 and a beta of 0.31. Opiant Pharmaceuticals has a fifty-two week low of $9.98 and a fifty-two week high of $17.02.
Opiant Pharmaceuticals (NASDAQ:OPNT) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.86. The business had revenue of $6.78 million during the quarter, compared to the consensus estimate of $3.91 million. Opiant Pharmaceuticals had a negative return on equity of 12.74% and a negative net margin of 11.78%. As a group, sell-side analysts predict that Opiant Pharmaceuticals will post 1.05 EPS for the current fiscal year.
In other news, insider Phil Skolnick sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.15, for a total transaction of $141,500.00. Following the completion of the sale, the insider now directly owns 10,000 shares in the company, valued at approximately $141,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Sinclair sold 60,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.52, for a total value of $751,200.00. Insiders sold a total of 90,000 shares of company stock valued at $1,197,500 over the last 90 days. 30.88% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its position in shares of Opiant Pharmaceuticals by 24.3% during the 2nd quarter. Advisor Group Inc. now owns 4,600 shares of the technology company’s stock valued at $61,000 after acquiring an additional 900 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Opiant Pharmaceuticals during the 3rd quarter valued at $363,000. BlackRock Inc. lifted its position in shares of Opiant Pharmaceuticals by 93.5% during the 2nd quarter. BlackRock Inc. now owns 20,792 shares of the technology company’s stock valued at $276,000 after acquiring an additional 10,045 shares during the period. Stonepine Capital Management LLC lifted its position in shares of Opiant Pharmaceuticals by 7.0% during the 2nd quarter. Stonepine Capital Management LLC now owns 315,468 shares of the technology company’s stock valued at $4,180,000 after acquiring an additional 20,574 shares during the period. Finally, Morgan Stanley lifted its position in shares of Opiant Pharmaceuticals by 1,000.3% during the 2nd quarter. Morgan Stanley now owns 22,414 shares of the technology company’s stock valued at $297,000 after acquiring an additional 20,377 shares during the period. Hedge funds and other institutional investors own 20.82% of the company’s stock.
About Opiant Pharmaceuticals
Opiant Pharmaceuticals, Inc, a specialty pharmaceutical company, develops pharmacological treatments for substance use, addictive and eating disorders. The company offers NARCAN nasal spray, a treatment to reverse opioid overdoses. Its pipeline of product candidates includes treatments for eating disorders, including bulimia nervosa and binge eating disorders, alcohol use disorders, a long term treatment to prevent relapse for patients with opioid use disorders, cocaine use disorders, and a heroin vaccine.
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