Optinose (OPTN) PT Lowered to $21 at Cantor Fitzgerald

Cantor Fitzgerald analyst Brandon Folkes lowered the price target on Optinose (NASDAQ: OPTN) to $21.00 (from $27.00) while maintaining a Overweight rating.

The analyst commented, "Post 4Q19, we are reiterating our Overweight rating and are refining our 12-month price target on OPTN shares to $21, from $27. Despite the price target revision, we remain bullish on the long terms prospects for Xhance and OPTN shares, and our positive outlook and thesis remain unchanged. We believe we are beginning to see Xhance gain traction, which supports our confidence in the peak sales potential of the product. In 2019, the increased access, better affordability, the sales force expansion and increased awareness of the good efficacy data drove meaningful script growth, which we expect to continue in 2020, and beyond. OPTN has evolved aspects of its launch strategy, which we view as positive and believe it is beginning to pay dividends. We believe Xhance has the potential to exceed expectations, especially if OptiNose is able to secure a partner for the primary care setting post the readout of the chronic sinusitis trials."

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