Optinose initiated with a Buy at Lake Street

Lake Street initiated coverage of Optinose with a Buy rating and $3 price target. OptiNose, whose proprietary technology “really does improve the intranasal delivery of drugs,” is using 2023 “as a reset year” and hopes are now pinned on a potential label-expanding FDA approval in December that could lead to increase XHANCE prescribing. Combined with easing payer restrictions, the firm believes this should set the company “on course for renewed growth and value creation for shareholders,” the analyst tells investors.