HC Wainwright Comments on OptiNose, Inc.’s Q1 2024 Earnings (NASDAQ:OPTN)

OptiNose, Inc. (NASDAQ:OPTN) – Stock analysts at HC Wainwright boosted their Q1 2024 earnings per share estimates for shares of OptiNose in a research note issued to investors on Monday, April 29th. HC Wainwright analyst M. Caufield now expects that the company will post earnings per share of ($0.11) for the quarter, up from their prior forecast of ($0.12). HC Wainwright currently has a “Buy” rating and a $5.00 target price on the stock. The consensus estimate for OptiNose’s current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for OptiNose’s Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.03) EPS, FY2025 earnings at ($0.13) EPS, FY2026 earnings at ($0.07) EPS, FY2027 earnings at $0.33 EPS and FY2028 earnings at $0.65 EPS.

OptiNose (NASDAQ:OPTN) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $19.87 million during the quarter, compared to analysts’ expectations of $19.90 million. During the same quarter last year, the business earned ($0.17) earnings per share.

Separately, Lake Street Capital raised their target price on OptiNose from $3.00 to $4.00 and gave the company a “buy” rating in a report on Monday, March 18th.

OptiNose Price Performance

OptiNose stock opened at $0.91 on Wednesday. The company has a market cap of $102.66 million, a price-to-earnings ratio of -2.84 and a beta of -0.24. OptiNose has a 12 month low of $0.80 and a 12 month high of $2.10. The stock’s 50-day moving average is $1.43 and its 200-day moving average is $1.31.

Institutional Investors Weigh In On OptiNose

Several hedge funds and other institutional investors have recently bought and sold shares of the business. HighMark Wealth Management LLC acquired a new position in shares of OptiNose in the 1st quarter worth approximately $36,000. Palumbo Wealth Management LLC acquired a new position in shares of OptiNose in the 4th quarter worth approximately $33,000. Assenagon Asset Management S.A. acquired a new position in shares of OptiNose in the 4th quarter worth approximately $47,000. Bank of New York Mellon Corp grew its position in shares of OptiNose by 71.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 390,987 shares of the company’s stock worth $481,000 after acquiring an additional 163,189 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of OptiNose by 8.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,050,074 shares of the company’s stock worth $1,292,000 after acquiring an additional 83,351 shares in the last quarter. 85.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at OptiNose

In related news, insider Michael F. Marino III sold 15,059 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $1.88, for a total transaction of $28,310.92. Following the sale, the insider now directly owns 602,268 shares in the company, valued at approximately $1,132,263.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other OptiNose news, CEO Ramy A. Mahmoud sold 19,198 shares of OptiNose stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $1.88, for a total transaction of $36,092.24. Following the sale, the chief executive officer now directly owns 1,331,278 shares in the company, valued at approximately $2,502,802.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael F. Marino III sold 15,059 shares of OptiNose stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $1.88, for a total value of $28,310.92. Following the sale, the insider now owns 602,268 shares in the company, valued at $1,132,263.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,602 shares of company stock worth $68,812. 2.20% of the stock is currently owned by company insiders.

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.