Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT) Short Interest Down 32.6% in May

Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT – Get Rating) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 56,900 shares, a drop of 32.6% from the May 15th total of 84,400 shares. Based on an average daily trading volume, of 98,700 shares, the short-interest ratio is presently 0.6 days.

In other news, Director Michael Sinclair sold 7,688 shares of Opiant Pharmaceuticals stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $12.94, for a total transaction of $99,482.72. Following the sale, the director now owns 41,532 shares in the company, valued at $537,424.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig A. Collard acquired 4,037 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were purchased at an average price of $10.94 per share, for a total transaction of $44,164.78. Following the purchase, 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. Company insiders own 25.15% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Dorsey Wright & Associates acquired a new position in Opiant Pharmaceuticals in the fourth quarter worth $72,000. Morgan Stanley boosted its holdings in Opiant Pharmaceuticals by 11.8% in the first 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. Hillsdale Investment Management Inc. acquired a new position in Opiant Pharmaceuticals in the fourth quarter worth $108,000. JPMorgan Chase & Co. boosted its holdings in Opiant Pharmaceuticals by 10.7% in the first 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. Finally, Cubist Systematic Strategies LLC acquired a new position in Opiant Pharmaceuticals in the fourth quarter worth $216,000. 27.93% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:OPNT traded up $0.03 during midday trading on Tuesday, reaching $10.91. The company had a trading volume of 1,295 shares, compared to its average volume of 43,952. The company has a quick ratio of 8.72, a current ratio of 8.72 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average price is $17.05 and its 200-day moving average price is $24.16. Opiant Pharmaceuticals has a one year low of $7.34 and a one year high of $37.71.

Opiant Pharmaceuticals (NASDAQ:OPNT – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The technology company reported ($2.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.68). The company had revenue of $4.47 million during the quarter, compared to the consensus estimate of $7.13 million. Opiant Pharmaceuticals had a negative return on equity of 15.28% and a negative net margin of 13.70%. During the same quarter last year, the firm posted ($0.66) EPS. On average, equities research analysts anticipate that Opiant Pharmaceuticals will post -6.21 EPS for the current fiscal year.

A number of analysts have recently issued reports on the stock. TheStreet lowered shares of Opiant Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Tuesday, May 31st. Cantor Fitzgerald restated an “overweight” rating on shares of Opiant Pharmaceuticals in a research note on Wednesday, March 16th.

About Opiant Pharmaceuticals (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.

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