Opiant Pharmaceuticals Inc (NASDAQ:OPNT) Short Interest Down 29.5% in August

Opiant Pharmaceuticals Inc (NASDAQ:OPNT) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 10,500 shares, a drop of 29.5% from the August 15th total of 14,900 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 45,800 shares, the days-to-cover ratio is presently 0.2 days.

OPNT stock opened at $8.82 on Thursday. Opiant Pharmaceuticals has a twelve month low of $7.35 and a twelve month high of $18.23. The firm has a market cap of $37.56 million, a PE ratio of 5.13 and a beta of 0.67. The business has a 50 day moving average of $8.85 and a 200 day moving average of $9.89.

Opiant Pharmaceuticals (NASDAQ:OPNT) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.26. The firm had revenue of $6.31 million during the quarter, compared to analyst estimates of $6.47 million. Opiant Pharmaceuticals had a negative return on equity of 2.43% and a net margin of 25.32%. On average, equities research analysts predict that Opiant Pharmaceuticals will post -0.83 earnings per share for the current year.

Separately, ValuEngine upgraded Opiant Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, July 2nd.

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of Opiant Pharmaceuticals by 439.7% during the first quarter. Acadian Asset Management LLC now owns 8,128 shares of the technology company’s stock valued at $79,000 after acquiring an additional 6,622 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in Opiant Pharmaceuticals during the 1st quarter valued at $45,000. Fondren Management LP increased its holdings in shares of Opiant Pharmaceuticals by 18.6% in the 1st quarter. Fondren Management LP now owns 314,300 shares of the technology company’s stock worth $3,011,000 after purchasing an additional 49,400 shares in the last quarter. Stonepine Capital Management LLC raised its stake in shares of Opiant Pharmaceuticals by 14.0% in the first quarter. Stonepine Capital Management LLC now owns 380,948 shares of the technology company’s stock worth $3,649,000 after purchasing an additional 46,676 shares during the last quarter. Finally, Alambic Investment Management L.P. bought a new position in shares of Opiant Pharmaceuticals during the first quarter valued at $147,000. Hedge funds and other institutional investors own 19.32% of the company’s stock.

Opiant Pharmaceuticals Company Profile

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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