In a report released yesterday, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on Opiant Pharmaceuticals Inc (NASDAQ: OPNT), with a price target of $32. The company’s shares closed yesterday at $15.66, close to its 52-week low of $12.75.
Folkes noted:
“We reiterate our OW rating on Opiant, which is developing treatments focused on multiple addictions as well as a new product for opioid overdose. As the company advances its pipeline, and provided the data are positive, which we believe they should be, we expect investors to begin to appreciate the market potential of Opiant’s pipeline, and that should drive the stock higher. Valuation Summary We use a blend of DCF and EV/EBITDA to arrive at our $32 price target.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -2.7% and a 41.2% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
Currently, the analyst consensus on Opiant Pharmaceuticals Inc is a Moderate Buy with an average price target of $32.
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The company has a one-year high of $51.90 and a one-year low of $12.75. Currently, Opiant Pharmaceuticals Inc has an average volume of 22.48K.
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 OPNT in relation to earlier this year.
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Opiant Pharmaceuticals, Inc. is a biopharmaceutical company, which develops pharmaceutical solutions for common addictions and related disorders. The company focuses on developing treatment to reverse opioid overdoses, treatment for overweight and obese patients with binge eating disorder and treatment for patients with Bulimia Nervosa.
