Northland Securities Remains a Buy on Opiant Pharmaceuticals (OPNT)

By Austin Angelo

In a report released today, Carl Byrnes from Northland Securities maintained a Buy rating on Opiant Pharmaceuticals (OPNTResearch Report), with a price target of $42.00. The company’s shares closed last Thursday at $11.78.

According to TipRanks.com, Byrnes is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -19.2% and a 29.4% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Aridis Pharmaceuticals, Flexion Therapeutics, and vTv Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Opiant Pharmaceuticals with a $42.00 average price target.

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Based on Opiant Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.67 million and net profit of $1.07 million. In comparison, last year the company earned revenue of $4.76 million and had a GAAP net loss of $9.54 million.

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Opiant Pharmaceuticals, Inc. engages in the development of pharmaceutical solutions for common addictions and related disorders. It focuses on developing treatment to reverse opioid overdoses, treatment for overweight and obese patients with binge eating disorder and treatment for patients with Bulimia Nervosa. Its principal product Naloxone is a medicine which is available through injection can reverse the overdose of prescription and illicit opioids. Opiant Pharmaceuticals was founded on June 21, 2005 and is headquartered in Santa Monica, CA.