Opiant Pharmaceuticals Inc (NASDAQ:OPNT) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Opiant Pharmaceuticals Inc (NASDAQ:OPNT) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Analysts have set a 12 month consensus price target of $41.33 for the company and are predicting that the company will post ($0.47) EPS for the current quarter, according to Zacks. Zacks has also assigned Opiant Pharmaceuticals an industry rank of 78 out of 256 based on the ratings given to its competitors.

A number of equities research analysts have commented on the stock. ValuEngine cut shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Northland Securities assumed coverage on shares of Opiant Pharmaceuticals in a research note on Wednesday, May 29th. They set an “outperform” rating and a $42.00 target price on the stock.

In related news, insider Phil Skolnick sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $13.19, for a total value of $131,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 30,000 shares of company stock valued at $362,900. 30.88% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of OPNT. Advisor Group Inc. grew its holdings in shares of Opiant Pharmaceuticals by 57.2% in the fourth quarter. Advisor Group Inc. now owns 4,700 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,710 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Opiant Pharmaceuticals by 44.0% in the fourth quarter. BlackRock Inc. now owns 10,259 shares of the technology company’s stock valued at $149,000 after purchasing an additional 3,137 shares in the last quarter. Spark Investment Management LLC grew its holdings in shares of Opiant Pharmaceuticals by 17.6% in the first quarter. Spark Investment Management LLC now owns 15,100 shares of the technology company’s stock valued at $198,000 after purchasing an additional 2,265 shares in the last quarter. Granite Investment Partners LLC purchased a new position in shares of Opiant Pharmaceuticals in the first quarter valued at $356,000. Finally, Northern Trust Corp grew its holdings in shares of Opiant Pharmaceuticals by 3.5% in the fourth quarter. Northern Trust Corp now owns 41,803 shares of the technology company’s stock valued at $604,000 after purchasing an additional 1,398 shares in the last quarter. 20.06% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:OPNT traded down $0.56 during trading on Friday, hitting $13.05. The company’s stock had a trading volume of 15,233 shares, compared to its average volume of 16,513. The company has a 50-day simple moving average of $12.74. Opiant Pharmaceuticals has a 12 month low of $9.98 and a 12 month high of $29.55. The firm has a market cap of $51.29 million, a price-to-earnings ratio of -1.84 and a beta of 0.44.

Opiant Pharmaceuticals (NASDAQ:OPNT) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.88) by $0.44. Opiant Pharmaceuticals had a negative net margin of 30.98% and a negative return on equity of 32.67%. The firm had revenue of $5.44 million for the quarter, compared to analysts’ expectations of $1.90 million. On average, analysts forecast that Opiant Pharmaceuticals will post 0.4 earnings per share for the current fiscal year.

About Opiant Pharmaceuticals

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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