Brokerages expect Opiant Pharmaceuticals Inc (NASDAQ:OPNT) to post sales of $4.72 million for the current quarter, Zacks reports. Two analysts have made estimates for Opiant Pharmaceuticals’ earnings, with the highest sales estimate coming in at $5.33 million and the lowest estimate coming in at $4.10 million. Opiant Pharmaceuticals reported sales of $4.37 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8%. The business is expected to announce its next quarterly earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Opiant Pharmaceuticals will report full year sales of $26.69 million for the current financial year, with estimates ranging from $18.60 million to $34.78 million. For the next year, analysts anticipate that the firm will post sales of $31.53 million, with estimates ranging from $23.05 million to $40.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Opiant Pharmaceuticals.

Opiant Pharmaceuticals (NASDAQ:OPNT) last issued its earnings results on Thursday, August 8th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of ($0.55) by $0.86. The company had revenue of $6.78 million during the quarter, compared to analysts’ expectations of $3.91 million. Opiant Pharmaceuticals had a negative net margin of 11.78% and a negative return on equity of 12.82%.

Several brokerages have recently issued reports on OPNT. ValuEngine raised shares of Opiant Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Northland Securities reaffirmed a “buy” rating on shares of Opiant Pharmaceuticals in a research note on Friday, August 2nd.

Shares of OPNT stock traded up $0.74 on Thursday, hitting $15.90. The stock had a trading volume of 33,154 shares, compared to its average volume of 21,134. Opiant Pharmaceuticals has a twelve month low of $9.98 and a twelve month high of $29.55. The firm has a market cap of $61.99 million, a price-to-earnings ratio of -2.24 and a beta of 0.43. The company has a fifty day simple moving average of $13.03.

In other news, insider Phil Skolnick sold 10,000 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $13.19, for a total transaction of $131,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 30,000 shares of company stock valued at $365,000. Company insiders own 30.88% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Advisor Group Inc. raised its holdings in shares of Opiant Pharmaceuticals by 57.2% in the 4th quarter. Advisor Group Inc. now owns 4,700 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,710 shares during the period. BlackRock Inc. raised its holdings in shares of Opiant Pharmaceuticals by 44.0% in the 4th quarter. BlackRock Inc. now owns 10,259 shares of the technology company’s stock valued at $149,000 after purchasing an additional 3,137 shares during the period. Northern Trust Corp raised its holdings in shares of Opiant Pharmaceuticals by 3.5% in the 4th quarter. Northern Trust Corp now owns 41,803 shares of the technology company’s stock valued at $604,000 after purchasing an additional 1,398 shares during the period. Spark Investment Management LLC raised its holdings in shares of Opiant Pharmaceuticals by 17.6% in the 1st quarter. Spark Investment Management LLC now owns 15,100 shares of the technology company’s stock valued at $198,000 after purchasing an additional 2,265 shares during the period. Finally, Granite Investment Partners LLC bought a new stake in shares of Opiant Pharmaceuticals in the 1st quarter valued at about $356,000. 18.60% of the stock is currently owned by institutional investors.

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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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