In a report released yesterday, William Tanner from Cantor Fitzgerald reiterated a Buy rating on Optinose Inc (OPTN), with a price target of $27. The company’s shares closed yesterday at $11.28, close to its 52-week low of $9.78.
Tanner wrote:
“: We reiterate our Overweight rating and we are reducing our PT to $27 from $30 on OPTN stock. We believe Xhance will become an important therapy for treating nasal polyps (potentially other indications) by virtue of its improved delivery of fluticasone into the nasal cavity, particularly compared with conventional nasal spray devices. We believe it reasonable that the drug will deliver evidence of safety and efficacy in other indications that would meaningfully expand the commercial opportunity.”
According to TipRanks.com, Tanner is a 1-star analyst with an average return of -0.7% and a 38.9% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Intra-Cellular Therapies, and Evofem Biosciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Optinose Inc with a $28.67 average price target.
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Based on Optinose Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $24.58 million. In comparison, last year the company had a GAAP net loss of $13.09 million.
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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.
