Wall Street brokerages forecast that Opiant Pharmaceuticals Inc (NASDAQ:OPNT) will report sales of $5.73 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Opiant Pharmaceuticals’ earnings, with estimates ranging from $5.55 million to $5.90 million. Opiant Pharmaceuticals posted sales of $4.37 million in the same quarter last year, which suggests a positive year over year growth rate of 31.1%. The business is scheduled to announce its next earnings results after the market closes on Tuesday, November 12th.
According to Zacks, analysts expect that Opiant Pharmaceuticals will report full year sales of $31.56 million for the current fiscal year, with estimates ranging from $25.20 million to $37.91 million. For the next year, analysts anticipate that the business will report sales of $29.93 million, with estimates ranging from $23.05 million to $36.80 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Opiant Pharmaceuticals.
Opiant Pharmaceuticals (NASDAQ:OPNT) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.86. Opiant Pharmaceuticals had a negative net margin of 11.78% and a negative return on equity of 12.74%. The business had revenue of $6.78 million during the quarter, compared to analyst estimates of $3.91 million.
In related news, insider Phil Skolnick sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total value of $141,500.00. Following the sale, the insider now owns 10,000 shares in the company, valued at $141,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Sinclair sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.52, for a total transaction of $751,200.00. In the last quarter, insiders have sold 90,000 shares of company stock worth $1,197,500. Corporate insiders own 30.88% of the company’s stock.
A number of hedge funds have recently modified their holdings of OPNT. Wedge Capital Management L L P NC purchased a new stake in Opiant Pharmaceuticals in the third quarter worth approximately $363,000. Stonepine Capital Management LLC boosted its holdings 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 worth $4,180,000 after purchasing an additional 20,574 shares during the last quarter. Morgan Stanley boosted its holdings in Opiant Pharmaceuticals by 1,000.3% in the second quarter. Morgan Stanley now owns 22,414 shares of the technology company’s stock worth $297,000 after purchasing an additional 20,377 shares during the last quarter. BlackRock Inc. boosted its holdings in Opiant Pharmaceuticals by 93.5% in the second quarter. BlackRock Inc. now owns 20,792 shares of the technology company’s stock worth $276,000 after purchasing an additional 10,045 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings in Opiant Pharmaceuticals by 24.3% in the second quarter. Advisor Group Inc. now owns 4,600 shares of the technology company’s stock worth $61,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 20.82% of the company’s stock.
NASDAQ OPNT traded up $0.38 during trading on Thursday, hitting $15.80. 6,400 shares of the company’s stock traded hands, compared to its average volume of 20,137. The stock has a fifty day moving average of $15.06 and a two-hundred day moving average of $13.47. Opiant Pharmaceuticals has a 12-month low of $9.98 and a 12-month high of $17.02. The firm has a market cap of $61.02 million, a P/E ratio of -2.23 and a beta of 0.31.
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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