Opiant Pharmaceuticals (NASDAQ:OPNT) Posts Quarterly Earnings Results, Misses Expectations By $1.68 EPS

Opiant Pharmaceuticals (NASDAQ:OPNT – Get Rating) announced its quarterly earnings results on Tuesday. The technology company reported ($2.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($1.68), MarketWatch Earnings reports. Opiant Pharmaceuticals had a net margin of 6.40% and a return on equity of 7.69%. During the same quarter in the prior year, the business earned ($0.66) EPS.

NASDAQ:OPNT traded down $6.57 during mid-day trading on Wednesday, hitting $11.78. 12,074 shares of the company’s stock were exchanged, compared to its average volume of 81,000. The company has a 50 day simple moving average of $22.03 and a 200-day simple moving average of $26.13. The company has a current ratio of 10.10, a quick ratio of 10.10 and a debt-to-equity ratio of 0.34. Opiant Pharmaceuticals has a fifty-two week low of $12.00 and a fifty-two week high of $37.71. The firm has a market capitalization of $59.84 million, a P/E ratio of 39.03 and a beta of 0.65.

Several equities research analysts recently commented on the stock. TheStreet downgraded shares of Opiant Pharmaceuticals from a “b-” rating to a “c” rating in a research report on Monday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Opiant Pharmaceuticals in a research report on Wednesday, March 16th.

Several hedge funds and other institutional investors have recently modified their holdings of OPNT. Morgan Stanley lifted its position in shares of Opiant Pharmaceuticals by 11.8% in the 1st quarter. Morgan Stanley now owns 9,476 shares of the technology company’s stock worth $101,000 after purchasing an additional 1,000 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Opiant Pharmaceuticals by 10.7% in the 1st quarter. JPMorgan Chase & Co. now owns 7,466 shares of the technology company’s stock worth $160,000 after purchasing an additional 723 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Opiant Pharmaceuticals in the 4th quarter worth approximately $216,000. State Street Corp acquired a new position in shares of Opiant Pharmaceuticals in the 4th quarter worth approximately $404,000. Finally, Marshall Wace LLP acquired a new position in shares of Opiant Pharmaceuticals in the 4th quarter worth approximately $793,000. Hedge funds and other institutional investors own 27.93% of the company’s stock.

Opiant Pharmaceuticals Company Profile (Get Rating)

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.

See Also