Zacks Investment Research Research Analysts Lower Earnings Estimates for Opiant Pharmaceuticals Inc (NASDAQ:OPNT)

Opiant Pharmaceuticals Inc (NASDAQ:OPNT) – Investment analysts at Zacks Investment Research dropped their Q2 2019 earnings per share (EPS) estimates for shares of Opiant Pharmaceuticals in a report released on Monday, May 13th, Zacks Investment Research reports. Zacks Investment Research analyst D. Bautz now anticipates that the technology company will post earnings per share of ($0.62) for the quarter, down from their previous estimate of ($0.53). Zacks Investment Research also issued estimates for Opiant Pharmaceuticals’ Q3 2019 earnings at ($0.36) EPS, Q4 2019 earnings at $0.12 EPS and FY2019 earnings at ($1.30) EPS.

A number of other equities research analysts have also weighed in on OPNT. ValuEngine raised shares of Opiant Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Northland Securities initiated coverage on shares of Opiant Pharmaceuticals in a report on Wednesday. They set an “outperform” rating and a $42.00 price objective for the company.

OPNT traded down $0.27 during trading hours on Wednesday, reaching $11.82. 17,700 shares of the stock traded hands, compared to its average volume of 21,086. The firm has a market cap of $47.87 million, a price-to-earnings ratio of -1.66 and a beta of 0.37. Opiant Pharmaceuticals has a fifty-two week low of $9.98 and a fifty-two week high of $29.55.

Opiant Pharmaceuticals (NASDAQ:OPNT) last released its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.88) by $0.44. The business had revenue of $5.44 million during the quarter, compared to analyst estimates of $1.90 million. Opiant Pharmaceuticals had a negative net margin of 30.98% and a negative return on equity of 32.67%.

In other Opiant Pharmaceuticals news, insider Phil Skolnick sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $11.39, for a total transaction of $113,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Roger Crystal sold 21,227 shares of Opiant Pharmaceuticals stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $12.00, for a total transaction of $254,724.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,000 shares of company stock valued at $841,363. 30.88% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. boosted its holdings in shares of Opiant Pharmaceuticals by 57.2% in the 4th quarter. Advisor Group Inc. now owns 4,700 shares of the technology company’s stock valued at $69,000 after buying an additional 1,710 shares during the period. BlackRock Inc. boosted its holdings in shares of Opiant Pharmaceuticals by 44.0% in the 4th quarter. BlackRock Inc. now owns 10,259 shares of the technology company’s stock valued at $149,000 after buying an additional 3,137 shares during the period. Spark Investment Management LLC boosted its holdings in shares of Opiant Pharmaceuticals by 17.6% in the 1st quarter. Spark Investment Management LLC now owns 15,100 shares of the technology company’s stock valued at $198,000 after buying an additional 2,265 shares during the period. Eversept Partners LP acquired a new position in shares of Opiant Pharmaceuticals in the 4th quarter valued at about $201,000. Finally, Brasada Capital Management LP boosted its holdings in shares of Opiant Pharmaceuticals by 36.0% in the 4th quarter. Brasada Capital Management LP now owns 20,400 shares of the technology company’s stock valued at $295,000 after buying an additional 5,400 shares during the period. 20.06% of the stock is owned by institutional investors and hedge funds.

Opiant Pharmaceuticals Company Profile

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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