Opiant Pharmaceuticals Inc (NASDAQ:OPNT) was the recipient of a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 35,200 shares, an increase of 22.2% from the November 14th total of 28,800 shares. Based on an average daily volume of 21,000 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.0% of the company’s shares are short sold.
OPNT traded up $0.27 during midday trading on Thursday, reaching $14.26. 861 shares of the company were exchanged, compared to its average volume of 24,720. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.28 and a current ratio of 4.28. Opiant Pharmaceuticals has a one year low of $9.98 and a one year high of $18.23. The stock has a market capitalization of $56.44 million, a P/E ratio of -1.94 and a beta of 0.24. The stock’s 50-day simple moving average is $14.67 and its 200 day simple moving average is $13.90.
Opiant Pharmaceuticals (NASDAQ:OPNT) last issued its earnings results on Tuesday, November 12th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analysts’ expectations of $5.73 million. On average, research analysts anticipate that Opiant Pharmaceuticals will post 0.23 earnings per share for the current year.
In related news, insider Phil Skolnick sold 7,143 shares of Opiant Pharmaceuticals stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $13.47, for a total value of $96,216.21. Over the last quarter, insiders sold 27,143 shares of company stock valued at $401,016. Corporate insiders own 30.88% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. boosted 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 worth $61,000 after buying an additional 900 shares during the last quarter. BlackRock Inc. boosted 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 worth $276,000 after buying an additional 10,045 shares during the last quarter. Morgan Stanley boosted 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 worth $297,000 after buying an additional 20,377 shares during the last quarter. Stonepine Capital Management LLC boosted 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 worth $4,180,000 after buying an additional 20,574 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in Opiant Pharmaceuticals during the third quarter worth about $363,000. Hedge funds and other institutional investors own 21.49% 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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