In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on Optinose Inc (OPTN), with a price target of $27. The company’s shares opened today at $6.75, close to its 52-week low of $6.70.
Folkes wrote:
“: We recently assumed coverage of OptiNose and are publishing our views on OPTN stock, reiterating the Overweight and $27 price target. Despite a lumpy Xhance launch, we remain confident in the peak sales potential of Xhance, and believe the strong efficacy data will drive uptake and persistence, even if this may take longer than originally anticipated. The company has evolved aspects of its launch strategy, which we view as positive. We are taking a conservative approach to Xhance revenue in 2019 while the updated launch strategy is implemented; consensus numbers may adjust down.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -5.9% and a 31.1% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
Currently, the analyst consensus on Optinose Inc is a Moderate Buy with an average price target of $29.
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The company has a one-year high of $30 and a one-year low of $6.70. Currently, Optinose Inc has an average volume of 248.5K.
Based on the recent corporate insider activity of 14 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.
