OptiNose (NASDAQ:OPTN) Price Target Cut to $17.00 by Analysts at Lake Street Capital

OptiNose (NASDAQ:OPTN - Get Free Report) had its price objective decreased by Lake Street Capital from $45.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Lake Street Capital's price objective indicates a potential upside of 166.46% from the stock's previous close.

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

OptiNose Stock Up 5.8 %

Shares of OPTN stock traded up $0.35 during mid-day trading on Thursday, hitting $6.38. 109,793 shares of the stock were exchanged, compared to its average volume of 54,272. OptiNose has a 52-week low of $4.82 and a 52-week high of $31.50. The firm has a fifty day moving average of $6.79 and a 200 day moving average of $11.13. The company has a market cap of $64.18 million, a PE ratio of -1.52 and a beta of -0.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in shares of OptiNose during the third quarter valued at approximately $61,000. XTX Topco Ltd purchased a new stake in shares of OptiNose during the second quarter worth approximately $88,000. Squarepoint Ops LLC increased its position in shares of OptiNose by 173.7% during the second quarter. Squarepoint Ops LLC now owns 171,610 shares of the company's stock worth $178,000 after purchasing an additional 108,903 shares in the last quarter. State Street Corp raised its stake in OptiNose by 14.2% in the 3rd quarter. State Street Corp now owns 341,303 shares of the company's stock valued at $229,000 after purchasing an additional 42,500 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its holdings in OptiNose by 15.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company's stock valued at $764,000 after purchasing an additional 152,435 shares in the last quarter. 85.60% of the stock is 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.