Lake Street Capital Has Lowered Expectations for OptiNose (NASDAQ:OPTN) Stock Price

OptiNose (NASDAQ:OPTN) had its target price cut by equities research analysts at Lake Street Capital from $45.00 to $17.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s target price would indicate a potential upside of 174.41% from the stock’s previous close.

Other analysts also recently issued reports about the company. HC Wainwright increased their target price on OptiNose from $5.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Piper Sandler dropped their price objective on OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th.

OptiNose Stock Performance

Shares of NASDAQ:OPTN traded up $0.20 during trading on Thursday, reaching $6.20. 21,102 shares of the stock traded hands, compared to its average volume of 44,615. The stock has a market cap of $62.32 million, a P/E ratio of -1.46 and a beta of -0.15. The stock has a 50-day moving average of $7.00 and a two-hundred day moving average of $11.23. OptiNose has a 52-week low of $4.82 and a 52-week high of $31.50.

Institutional Investors Weigh In On OptiNose

A number of hedge funds have recently added to or reduced their stakes in OPTN. State Street Corp grew its holdings in shares of OptiNose by 14.2% in the third quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after acquiring an additional 42,500 shares during the period. Massachusetts Financial Services Co. MA boosted its position in OptiNose by 2.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,920,309 shares of the company’s stock worth $3,037,000 after purchasing an additional 81,233 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of OptiNose during the 2nd quarter valued at about $88,000. GSA Capital Partners LLP purchased a new stake in shares of OptiNose during the 3rd quarter valued at about $61,000. Finally, Squarepoint Ops LLC lifted its stake in shares of OptiNose by 173.7% in the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock worth $178,000 after purchasing an additional 108,903 shares during the period. 85.60% of the stock is currently owned by hedge funds and other institutional investors.

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.