Opiant Pharmaceuticals Inc (NASDAQ:OPNT) Short Interest Update

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Opiant Pharmaceuticals Inc (NASDAQ:OPNT) was the recipient of a large increase in short interest in the month of November. As of November 29th, there was short interest totalling 35,200 shares, an increase of 22.2% from the November 14th total of 28,800 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 21,000 shares, the days-to-cover ratio is presently 1.7 days.

Shares of OPNT stock traded up $1.37 on Friday, hitting $14.88. 34,442 shares of the company’s stock were exchanged, compared to its average volume of 19,627. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.28 and a quick ratio of 4.28. Opiant Pharmaceuticals has a 12 month low of $9.98 and a 12 month high of $18.23. The company has a 50 day moving average of $14.65 and a 200 day moving average of $13.94.

Opiant Pharmaceuticals (NASDAQ:OPNT) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.87. Opiant Pharmaceuticals had a negative return on equity of 7.39% and a net margin of 24.16%. The business had revenue of $20.64 million during the quarter, compared to the consensus estimate of $5.73 million. On average, sell-side analysts forecast that Opiant Pharmaceuticals will post 0.23 EPS for the current fiscal year.

In related news, insider Phil Skolnick sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $15.80, for a total transaction of $158,000.00. Also, Director Ann L. Macdougall acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $13.51 per share, with a total value of $67,550.00. Over the last quarter, insiders have bought 7,885 shares of company stock valued at $106,604 and have sold 27,143 shares valued at $401,016. Corporate insiders own 30.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC bought a new position in Opiant Pharmaceuticals in the third quarter valued at about $363,000. Stonepine Capital Management LLC raised its position in Opiant Pharmaceuticals by 7.0% in the second quarter. Stonepine Capital Management LLC now owns 315,468 shares of the technology company’s stock valued at $4,180,000 after purchasing an additional 20,574 shares during the last quarter. Morgan Stanley raised its position in Opiant Pharmaceuticals by 1,000.3% in the second quarter. Morgan Stanley now owns 22,414 shares of the technology company’s stock valued at $297,000 after purchasing an additional 20,377 shares during the last quarter. BlackRock Inc. raised its position in Opiant Pharmaceuticals by 93.5% in the second quarter. BlackRock Inc. now owns 20,792 shares of the technology company’s stock valued at $276,000 after purchasing an additional 10,045 shares during the last quarter. Finally, Advisor Group Inc. raised its position in Opiant Pharmaceuticals by 24.3% in the second quarter. Advisor Group Inc. now owns 4,600 shares of the technology company’s stock valued at $61,000 after purchasing an additional 900 shares during the last quarter. Institutional investors and hedge funds own 21.49% of the company’s stock.

Several analysts recently weighed in on the company. TheStreet upgraded Opiant Pharmaceuticals from a “d” rating to a “c-” rating in a research report on Friday, August 30th. Northland Securities restated a “buy” rating and set a $42.00 price objective on shares of Opiant Pharmaceuticals in a research report on Thursday, November 7th.

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.

See Also: Dead Cat Bounce

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