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.
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.
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