Lake Street Capital Issues Pessimistic Forecast for OptiNose (NASDAQ:OPTN) Stock Price

OptiNose (NASDAQ:OPTN) had its price objective cut by analysts at Lake Street Capital from $45.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s target price would indicate a potential upside of 166.46% from the company’s current price.

A number of other analysts have also recently commented on OPTN. HC Wainwright upped their price target on OptiNose from $5.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Piper Sandler reduced their target price on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th.

OptiNose Price Performance

NASDAQ:OPTN opened at $6.38 on Thursday. OptiNose has a one year low of $4.82 and a one year high of $31.50. The business has a fifty day moving average price of $6.79 and a 200-day moving average price of $11.13. The firm has a market capitalization of $64.18 million, a price-to-earnings ratio of -1.52 and a beta of -0.15.

Hedge Funds Weigh In On OptiNose

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in shares of OptiNose during the second quarter worth about $88,000. GSA Capital Partners LLP bought a new position in OptiNose in the 3rd quarter worth approximately $61,000. Squarepoint Ops LLC grew its holdings in OptiNose by 173.7% during the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock valued at $178,000 after buying an additional 108,903 shares in the last quarter. State Street Corp raised its position in shares of OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after buying an additional 42,500 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of OptiNose by 15.4% in the third quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company’s stock worth $764,000 after buying an additional 152,435 shares in the last quarter. 85.60% of the stock is currently 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.