HC Wainwright Issues Positive Forecast for OptiNose (NASDAQ:OPTN) Stock Price

OptiNose (NASDAQ:OPTN) had its target price upped by HC Wainwright from $5.00 to $18.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Separately, Piper Sandler decreased their target price on OptiNose from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th.

OptiNose Stock Performance

Shares of NASDAQ OPTN opened at $6.50 on Friday. OptiNose has a 52-week low of $4.82 and a 52-week high of $31.50. The stock has a market cap of $980.39 million, a P/E ratio of -23.21 and a beta of -0.16. The firm has a 50 day moving average price of $7.81 and a 200 day moving average price of $11.86.

Institutional Investors Weigh In On OptiNose

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of OptiNose by 33.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after acquiring an additional 326,918 shares in the last quarter. State Street Corp grew its stake in OptiNose by 14.2% in the third quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after purchasing an additional 42,500 shares in the last quarter. Stonepine Capital Management LLC increased its position in shares of OptiNose by 142.1% during the 3rd 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 during the last quarter. FMR LLC increased its position in shares of OptiNose by 3.2% during the 3rd 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake 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 worth $2,061,000 after purchasing an additional 155,329 shares in the last quarter. 85.60% of the stock is currently owned by institutional investors and hedge funds.

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.