Northland Securities Reiterates “Buy” Rating for Opiant Pharmaceuticals (NASDAQ:OPNT)

Opiant Pharmaceuticals (NASDAQ:OPNT)‘s stock had its “buy” rating reaffirmed by stock analysts at Northland Securities in a research note issued on Thursday, AnalystRatings.com reports. They currently have a $42.00 target price on the technology company’s stock. Northland Securities’ price target indicates a potential upside of 165.82% from the company’s previous close.

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

OPNT traded up $0.38 during trading on Thursday, reaching $15.80. 6,400 shares of the company’s stock were exchanged, compared to its average volume of 20,137. The company has a market capitalization of $61.02 million, a P/E ratio of -2.23 and a beta of 0.31. Opiant Pharmaceuticals has a fifty-two week low of $9.98 and a fifty-two week high of $17.02. The business has a 50 day moving average price of $15.06 and a 200 day moving average price of $13.47.

Opiant Pharmaceuticals (NASDAQ:OPNT) last posted its earnings results on Thursday, August 8th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.86. Opiant Pharmaceuticals had a negative return on equity of 12.74% and a negative net margin of 11.78%. The company had revenue of $6.78 million during the quarter, compared to analyst estimates of $3.91 million. Sell-side analysts anticipate that Opiant Pharmaceuticals will post 1.05 earnings per share for the current fiscal year.

In related news, insider Phil Skolnick sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.68, for a total value of $146,800.00. Also, Director Michael Sinclair sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.52, for a total value of $751,200.00. Insiders sold a total of 90,000 shares of company stock valued at $1,197,500 over the last quarter. 30.88% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wedge Capital Management L L P NC acquired a new position in shares of Opiant Pharmaceuticals in the 3rd quarter valued at approximately $363,000. Morgan Stanley grew its position in shares of Opiant Pharmaceuticals by 1,000.3% in the 2nd quarter. Morgan Stanley now owns 22,414 shares of the technology company’s stock valued at $297,000 after purchasing an additional 20,377 shares during the period. Stonepine Capital Management LLC grew its position in shares of Opiant Pharmaceuticals by 7.0% in the 2nd quarter. Stonepine Capital Management LLC now owns 315,468 shares of the technology company’s stock valued at $4,180,000 after purchasing an additional 20,574 shares during the period. BlackRock Inc. lifted its stake in Opiant Pharmaceuticals by 93.5% in the 2nd quarter. BlackRock Inc. now owns 20,792 shares of the technology company’s stock valued at $276,000 after acquiring an additional 10,045 shares in the last quarter. Finally, Advisor Group Inc. lifted its stake in Opiant Pharmaceuticals by 24.3% in the 2nd quarter. Advisor Group Inc. now owns 4,600 shares of the technology company’s stock valued at $61,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds 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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