Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT) Short Interest Down 32.3% in June

Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT – Get Rating) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 38,500 shares, a drop of 32.3% from the May 31st total of 56,900 shares. Based on an average daily volume of 91,200 shares, the days-to-cover ratio is currently 0.4 days.

Shares of OPNT stock traded down $0.04 on Monday, hitting $11.95. The stock had a trading volume of 952 shares, compared to its average volume of 77,898. The company’s 50 day moving average price is $14.24 and its 200-day moving average price is $22.29. Opiant Pharmaceuticals has a 1 year low of $7.34 and a 1 year high of $37.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 8.72 and a quick ratio of 8.72.

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 business had revenue of $4.47 million for the quarter, compared to analysts’ expectations 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 company earned ($0.66) earnings per share. On average, sell-side analysts anticipate that Opiant Pharmaceuticals will post -6.21 EPS for the current year.

OPNT has been the subject of a number of recent analyst reports. TheStreet downgraded Opiant Pharmaceuticals from a “c” rating to a “d+” rating in a research report on Tuesday, May 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Opiant Pharmaceuticals in a research note on Wednesday, March 16th.

In other news, Director Craig A. Collard purchased 4,037 shares of Opiant Pharmaceuticals stock in a transaction dated Monday, June 13th. The shares were purchased at an average price of $10.94 per share, with a total value of $44,164.78. Following the transaction, the director now owns 53,822 shares in the company, valued at $588,812.68. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Sinclair sold 7,688 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $12.94, for a total value of $99,482.72. Following the completion of the transaction, the director now owns 41,532 shares of the company’s stock, valued at $537,424.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,324 shares of company stock valued at $244,158. Insiders own 25.15% of the company’s stock.

Several large investors have recently bought and sold shares of OPNT. State Street Corp raised its stake in shares of Opiant Pharmaceuticals by 10.7% in 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 in the last quarter. Mariner LLC acquired a new stake in Opiant Pharmaceuticals in the 1st quarter valued at about $290,000. Parkman Healthcare Partners LLC boosted its stake in shares of Opiant Pharmaceuticals by 4.0% in the 1st quarter. Parkman Healthcare Partners LLC now owns 32,557 shares of the technology company’s stock valued at $697,000 after buying an additional 1,266 shares during the period. Apis Capital Advisors LLC increased its stake in shares of Opiant Pharmaceuticals by 1.8% during the first quarter. Apis Capital Advisors LLC now owns 112,000 shares of the technology company’s stock worth $2,399,000 after buying an additional 2,000 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Opiant Pharmaceuticals by 4.9% in the first quarter. Vanguard Group Inc. now owns 187,158 shares of the technology company’s stock valued at $4,009,000 after acquiring an additional 8,699 shares in the last quarter. Institutional investors and hedge funds own 27.93% of the company’s stock.

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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