Opiant Pharmaceuticals (NASDAQ:OPNT) Earns “Buy” Rating from Northland Securities

Northland Securities reiterated their buy rating on shares of Opiant Pharmaceuticals (NASDAQ:OPNT) in a research note issued to investors on Thursday, AnalystRatings.com reports. The firm currently has a $42.00 price objective on the technology company’s stock.

Separately, TheStreet upgraded Opiant Pharmaceuticals from a d rating to a c- rating in a report on Friday, August 30th.

Shares of NASDAQ OPNT traded up $0.38 during trading hours on Thursday, reaching $15.80. The stock had a trading volume of 6,400 shares, compared to its average volume of 20,137. The business’s fifty day moving average is $15.06 and its two-hundred day moving average is $13.47. The company has a market cap of $61.02 million, a price-to-earnings ratio of -2.23 and a beta of 0.31. Opiant Pharmaceuticals has a twelve month low of $9.98 and a twelve month high of $17.02.

Opiant Pharmaceuticals (NASDAQ:OPNT) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.86. The business had revenue of $6.78 million for the quarter, compared to analysts’ expectations of $3.91 million. Opiant Pharmaceuticals had a negative return on equity of 12.74% and a negative net margin of 11.78%. Research analysts predict that Opiant Pharmaceuticals will post 1.05 earnings per share for the current year.

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

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. Wedge Capital Management L L P NC bought a new position in Opiant Pharmaceuticals during the third quarter worth about $363,000. Finally, 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. Hedge funds and other institutional investors own 20.82% 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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