Opiant Pharmaceuticals’ (NASDAQ:OPNT) Buy Rating Reiterated at Northland Securities

Opiant Pharmaceuticals (NASDAQ:OPNT)‘s stock had its “buy” rating reiterated by analysts at Northland Securities in a report released on Thursday, November 7th, AnalystRatings.com reports. They presently have a $42.00 target price on the technology company’s stock. Northland Securities’ price target would indicate a potential upside of 195.77% from the company’s current price.

Separately, TheStreet raised shares of Opiant Pharmaceuticals from a “d” rating to a “c-” rating in a report on Friday, August 30th.

NASDAQ:OPNT traded up $1.04 during trading hours on Thursday, reaching $14.20. The company’s stock had a trading volume of 17,399 shares, compared to its average volume of 20,721. The stock has a 50 day moving average price of $14.75 and a two-hundred day moving average price of $13.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.28 and a current ratio of 4.28. Opiant Pharmaceuticals has a 12 month low of $9.98 and a 12 month high of $18.23. The company has a market capitalization of $57.75 million, a P/E ratio of -2.00 and a beta of 0.31.

Opiant Pharmaceuticals (NASDAQ:OPNT) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $1.87. The business had revenue of $20.64 million for the quarter, compared to analyst estimates of $5.73 million. Opiant Pharmaceuticals had a net margin of 24.16% and a negative return on equity of 7.39%. As a group, analysts predict that Opiant Pharmaceuticals will post 0.23 EPS for the current fiscal year.

In other Opiant Pharmaceuticals news, insider Phil Skolnick sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total value of $141,500.00. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at $141,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael Sinclair sold 60,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.52, for a total transaction of $751,200.00. Over the last ninety days, insiders sold 90,000 shares of company stock worth $1,197,500. 30.88% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPNT. Advisor Group Inc. raised its position in shares of Opiant Pharmaceuticals by 24.3% during the 2nd quarter. Advisor Group Inc. now owns 4,600 shares of the technology company’s stock worth $61,000 after purchasing an additional 900 shares during the last quarter. BlackRock Inc. raised its position in shares of Opiant Pharmaceuticals by 93.5% during the 2nd quarter. BlackRock Inc. now owns 20,792 shares of the technology company’s stock worth $276,000 after purchasing an additional 10,045 shares during the last quarter. Morgan Stanley raised its position in shares of Opiant Pharmaceuticals by 1,000.3% during the 2nd quarter. Morgan Stanley now owns 22,414 shares of the technology company’s stock worth $297,000 after purchasing an additional 20,377 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Opiant Pharmaceuticals during the 3rd quarter worth about $363,000. Finally, Stonepine Capital Management LLC raised its position in shares of Opiant Pharmaceuticals by 7.0% during the 2nd quarter. Stonepine Capital Management LLC now owns 315,468 shares of the technology company’s stock worth $4,180,000 after purchasing an additional 20,574 shares during the last quarter. Hedge funds and other institutional investors own 21.49% 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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