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Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT) Sees Large Decline in Short Interest

kopsource · Aug 13, 2022 21:11

Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT – Get Rating) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 32,900 shares, a decline of 31.9% from the July 15th total of 48,300 shares. Based on an average daily volume of 49,200 shares, the short-interest ratio is presently 0.7 days.

Opiant Pharmaceuticals Price Performance

Opiant Pharmaceuticals stock traded up $0.90 during midday trading on Friday, reaching $13.48. The company's stock had a trading volume of 31,822 shares, compared to its average volume of 17,959. The stock has a market cap of $68.48 million, a PE ratio of -3.31 and a beta of 0.52. The company has a current ratio of 8.72, a quick ratio of 8.72 and a debt-to-equity ratio of 0.35. Opiant Pharmaceuticals has a 52 week low of $7.34 and a 52 week high of $37.71. The business has a 50-day moving average price of $11.52 and a 200-day moving average price of $18.20.

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Opiant Pharmaceuticals (NASDAQ:OPNT – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The technology company reported ($2.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($1.68). Opiant Pharmaceuticals had a negative net margin of 51.18% and a negative return on equity of 46.15%. The company had revenue of $4.47 million for the quarter, compared to the consensus estimate of $7.13 million. During the same period last year, the firm posted ($0.66) earnings per share. On average, sell-side analysts predict that Opiant Pharmaceuticals will post -6.21 EPS for the current year.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded shares of Opiant Pharmaceuticals from a "c" rating to a "d+" rating in a research report on Tuesday, May 31st.

Insider Buying and Selling at Opiant Pharmaceuticals

In related news, Director Michael Sinclair sold 9,736 shares of the business's stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $13.88, for a total value of $135,135.68. Following the completion of the sale, the director now directly owns 59,484 shares in the company, valued at $825,637.92. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Michael Sinclair sold 9,736 shares of the business's stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $13.88, for a total value of $135,135.68. Following the completion of the transaction, the director now owns 59,484 shares of the company's stock, valued at $825,637.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Craig A. Collard acquired 4,037 shares of the business's stock in a transaction that occurred on Monday, June 13th. The shares were purchased at an average cost of $10.94 per share, with a total value of $44,164.78. Following the transaction, the director now directly owns 53,822 shares of the company's stock, valued at $588,812.68. The disclosure for this purchase can be found here. Insiders sold 23,751 shares of company stock valued at $304,412 in the last quarter. Company insiders own 25.15% of the company's stock.

Institutional Trading of Opiant Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. bought a new stake in shares of Opiant Pharmaceuticals during the fourth quarter worth about $108,000. JPMorgan Chase & Co. grew its holdings in Opiant Pharmaceuticals by 10.7% during the 1st quarter. JPMorgan Chase & Co. now owns 7,466 shares of the technology company's stock worth $160,000 after acquiring an additional 723 shares during the last quarter. Advisor Group Holdings Inc. increased its position in Opiant Pharmaceuticals by 28.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 8,125 shares of the technology company's stock valued at $273,000 after acquiring an additional 1,800 shares during the period. State Street Corp raised its stake in shares of Opiant Pharmaceuticals by 10.7% during the first quarter. State Street Corp now owns 13,285 shares of the technology company's stock valued at $285,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Mariner LLC acquired a new position in shares of Opiant Pharmaceuticals during the first quarter worth $290,000. Institutional investors own 27.93% of the company's stock.

About Opiant Pharmaceuticals

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Opiant Pharmaceuticals, Inc, a specialty pharmaceutical company, develops medicines for addictions and drug overdose. The company offers NARCAN nasal spray, a treatment to reverse opioid overdoses. Its pipeline of product candidates includes medicines for the treatment for opioid overdose reversal; alcohol use disorders; acute cannabinoid overdose; and opioid use disorders.