In a report released today, Brandon Folkes from Cantor Fitzgerald maintained a Buy rating on Optinose Inc (OPTN), with a price target of $27. The company’s shares opened today at $9.17, close to its 52-week low of $5.66.
Folkes commented:
“. Post 4Q18, we are reiterating our OW rating and $27 12- month PT for OPTN. Despite an lumpy Xhance initial launch, we believe we are beginning to see Xhance gain some traction, which supports our confidence in the peak sales potential of the product. In 2019 we believe the increased access, better affordability, the sales force expansion and increased awareness of the good efficacy data should continue to drive script growth throughout the year, and beyond. OPTN has evolved aspects of its launch strategy, which we view as positive and believe are beginning to pay dividends. We continue to take a conservative approach to Xhance revenue in 2019 while the updated launch strategy is fully implemented.”
According to TipRanks.com, Folkes is a 4-star analyst with an average return of 7.8% and a 51.2% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Optinose Inc with a $27 average price target.
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Based on Optinose Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $25.12 million. In comparison, last year the company had a GAAP net loss of $19.55 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OPTN in relation to earlier this year.
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OptiNose, Inc. is a pharmaceutical company, which engages in the development and commercialization of products for patients treated by ear, nose, throat, and allergy specialists. Its products include the XHANCE and ONZETRA Xsail. The company was founded by Per Gisle Djupesland and Helena Kyttari Djupesland in May 2010 and is headquartered in Yardley, PA.
