Opiant Pharmaceuticals Inc (NASDAQ:OPNT) Short Interest Down 15.9% in October

Opiant Pharmaceuticals Inc (NASDAQ:OPNT) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 22,200 shares, a decrease of 15.9% from the September 30th total of 26,400 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 19,100 shares, the short-interest ratio is presently 1.2 days.

A number of brokerages have weighed in on OPNT. TheStreet raised shares of Opiant Pharmaceuticals from a “d” rating to a “c-” rating in a report on Friday, August 30th. Northland Securities reissued a “buy” rating and issued a $42.00 price target on shares of Opiant Pharmaceuticals in a report on Thursday, November 7th.

NASDAQ OPNT traded down $0.24 on Friday, reaching $15.15. The company’s stock had a trading volume of 27,800 shares, compared to its average volume of 23,169. The firm’s 50 day moving average is $15.02 and its two-hundred day moving average is $13.59. Opiant Pharmaceuticals has a twelve month low of $9.98 and a twelve month high of $18.23. The stock has a market cap of $63.02 million, a PE ratio of -2.13 and a beta of 0.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.28 and a current ratio of 4.28.

Opiant Pharmaceuticals (NASDAQ:OPNT) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.87. Opiant Pharmaceuticals had a negative return on equity of 7.39% and a net margin of 24.16%. The firm had revenue of $20.64 million for the quarter, compared to the consensus estimate of $5.73 million. Equities research analysts anticipate that Opiant Pharmaceuticals will post 1.58 EPS for the current fiscal year.

In related news, insider Phil Skolnick sold 10,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $15.80, for a total value of $158,000.00. Also, Director Michael Sinclair sold 60,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $12.52, for a total transaction of $751,200.00. Insiders sold a total of 90,000 shares of company stock valued at $1,197,500 in the last quarter. 30.88% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in OPNT. Advisor Group Inc. grew its holdings in Opiant Pharmaceuticals by 24.3% during the second quarter. Advisor Group Inc. now owns 4,600 shares of the technology company’s stock valued at $61,000 after purchasing an additional 900 shares during the last quarter. BlackRock Inc. grew its holdings in Opiant Pharmaceuticals by 93.5% during the second quarter. BlackRock Inc. now owns 20,792 shares of the technology company’s stock valued at $276,000 after purchasing an additional 10,045 shares during the last quarter. Stonepine Capital Management LLC grew its holdings in Opiant Pharmaceuticals by 7.0% during the second quarter. Stonepine Capital Management LLC now owns 315,468 shares of the technology company’s stock valued at $4,180,000 after purchasing an additional 20,574 shares during the last quarter. Morgan Stanley grew its holdings in Opiant Pharmaceuticals by 1,000.3% during the second quarter. Morgan Stanley now owns 22,414 shares of the technology company’s stock valued at $297,000 after purchasing an additional 20,377 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in Opiant Pharmaceuticals during the third quarter valued at approximately $363,000. Hedge funds and other institutional investors own 21.41% 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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