OptiNose (NASDAQ:OPTN) Price Target Cut to $1.00 by Analysts at Piper Sandler

OptiNose (NASDAQ:OPTN) had its target price trimmed by Piper Sandler from $3.00 to $1.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of OptiNose in a report on Wednesday.

OptiNose Stock Performance

NASDAQ OPTN opened at $0.44 on Wednesday. OptiNose has a 1-year low of $0.41 and a 1-year high of $2.10. The stock’s 50 day simple moving average is $0.73 and its 200-day simple moving average is $0.95.

Hedge Funds Weigh In On OptiNose

A number of institutional investors have recently added to or reduced their stakes in OPTN. Vanguard Group Inc. grew its holdings in shares of OptiNose by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,242,610 shares of the company’s stock valued at $6,194,000 after purchasing an additional 62,906 shares during the period. Oracle Investment Management Inc. acquired a new position in OptiNose in the 1st quarter valued at about $474,000. Rosalind Advisors Inc. grew its stake in shares of OptiNose by 66.2% in the 2nd quarter. Rosalind Advisors Inc. now owns 7,547,148 shares of the company’s stock valued at $7,849,000 after buying an additional 3,005,659 shares during the period. Easterly Investment Partners LLC increased its holdings in shares of OptiNose by 10.2% during the 2nd quarter. Easterly Investment Partners LLC now owns 2,246,224 shares of the company’s stock worth $2,336,000 after buying an additional 208,185 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of OptiNose by 2.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,920,309 shares of the company’s stock valued at $3,037,000 after buying an additional 81,233 shares during the period. Hedge funds and other institutional investors own 85.60% of the company’s stock.

OptiNose Company Profile

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.