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Opiant Pharmaceuticals Beneish M-Score

: -2.84 (As of Today)
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The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Opiant Pharmaceuticals's Beneish M-Score or its related term are showing as below:

NAS:OPNT' s Beneish M-Score Range Over the Past 10 Years
Min: -19.87   Med: -2.17   Max: 43.47
Current: -2.84

-19.87
43.47

During the past 13 years, the highest Beneish M-Score of Opiant Pharmaceuticals was 43.47. The lowest was -19.87. And the median was -2.17.


Opiant Pharmaceuticals Beneish M-Score Historical Data

The historical data trend for Opiant Pharmaceuticals's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Opiant Pharmaceuticals Annual Data
Trend Jul11 Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -14.38 3.72 -6.12 0.40 15.77

Opiant Pharmaceuticals Quarterly Data
Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.33 23.88 15.77 43.47 -2.84

Competitive Comparison

For the Biotechnology subindustry, Opiant Pharmaceuticals's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Opiant Pharmaceuticals Beneish M-Score Distribution

For the Biotechnology industry and Healthcare sector, Opiant Pharmaceuticals's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Opiant Pharmaceuticals's Beneish M-Score falls into.



Opiant Pharmaceuticals Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Opiant Pharmaceuticals for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.6412+0.528 * 0.9543+0.404 * 0.5895+0.892 * 0.9427+0.115 * 0.853
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1132+4.679 * 0.0077-0.327 * 3.1552
=-2.84

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun21) TTM:Last Year (Jun20) TTM:
Accounts Receivable was $9.73 Mil.
Revenue was 11.259 + 6.387 + 9.924 + 9.106 = $36.68 Mil.
Gross Profit was 9.153 + 5.407 + 8.016 + 7.154 = $29.73 Mil.
Total Current Assets was $60.52 Mil.
Total Assets was $61.76 Mil.
Property, Plant and Equipment(Net PPE) was $1.23 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.61 Mil.
Selling, General, & Admin. Expense(SGA) was $15.60 Mil.
Total Current Liabilities was $5.78 Mil.
Long-Term Debt & Capital Lease Obligation was $19.62 Mil.
Net Income was 1.684 + -2.844 + -0.686 + 0.725 = $-1.12 Mil.
Non Operating Income was -0.024 + 0.014 + -0.007 + -0.006 = $-0.02 Mil.
Cash Flow from Operations was -2.076 + 1.712 + -1.634 + 0.422 = $-1.58 Mil.
Accounts Receivable was $6.29 Mil.
Revenue was 6.313 + 4.283 + 7.67 + 20.641 = $38.91 Mil.
Gross Profit was 4.91 + 3.349 + 6.048 + 15.79 = $30.10 Mil.
Total Current Assets was $38.68 Mil.
Total Assets was $39.44 Mil.
Property, Plant and Equipment(Net PPE) was $0.74 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.29 Mil.
Selling, General, & Admin. Expense(SGA) was $14.86 Mil.
Total Current Liabilities was $5.11 Mil.
Long-Term Debt & Capital Lease Obligation was $0.04 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(9.725 / 36.676) / (6.286 / 38.907)
=0.26515978 / 0.16156476
=1.6412

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(30.097 / 38.907) / (29.73 / 36.676)
=0.7735626 / 0.81061184
=0.9543

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (60.518 + 1.228) / 61.758) / (1 - (38.682 + 0.742) / 39.437)
=0.00019431 / 0.00032964
=0.5895

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=36.676 / 38.907
=0.9427

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0.293 / (0.293 + 0.742)) / (0.61 / (0.61 + 1.228))
=0.28309179 / 0.33188248
=0.853

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(15.597 / 36.676) / (14.863 / 38.907)
=0.42526448 / 0.38201352
=1.1132

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((19.618 + 5.784) / 61.758) / ((0.035 + 5.106) / 39.437)
=0.41131513 / 0.13035981
=3.1552

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-1.121 - -0.023 - -1.576) / 61.758
=0.0077

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Opiant Pharmaceuticals has a M-score of -2.84 suggests that the company is unlikely to be a manipulator.


Opiant Pharmaceuticals Beneish M-Score Related Terms

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Opiant Pharmaceuticals Business Description

Opiant Pharmaceuticals logo
Industry
Healthcare » Biotechnology NAICS : 325412 SIC : 2834
Traded in Other Exchanges
Address
233 Wilshire Blvd, Suite 280, Santa Monica, CA, USA, 90401
Opiant Pharmaceuticals Inc is a specialty pharmaceutical company operating in the US. It develops pharmacological treatments for substance use, addictive and eating disorders. The company has developed NARCAN, a Nasal Spray for treatment to reverse opioid overdoses. The company's pipeline includes medicines in development for Opioid Overdose Reversal (OOR), Alcohol Use Disorder (AUD), Opioid Use Disorder (OUD) and Acute Cannabinoid Overdose (ACO). The majority of the revenue is generated in the form of Royalty and licensing.
Executives
Thomas Thomas T. director C/O OPIANT PHARMACEUTICALS, INC. 401 WILSHIRE BOULEVARD, 12TH FLOOR SANTA MONICA CA 90401
Sinclair Michael director, 10 percent owner 86 GLOUCESTER PLACE LONDON XX W1U6HP
Collard Craig A director C/O CORNERSTONE THERAPEUTICS INC. 1255 CRESCENT GREEN DRIVE, SUITE 250 CARY NC 27518
Daly Richard J director 355 ALHAMBRA CIRCLE SUITE 1500 CORAL GABLES FL 33134
Macdougall Ann L. director C/O OPIANT PHARMACEUTICALS, INC. 401 WILSHIRE BOULEVARD, 12TH FLOOR SANTA MONICA CA 90401
Silver Gabrielle Alison director C/O OPIANT PHARMACEUTICALS, INC. 401 WILSHIRE BOULEVARD, 12TH FLOOR SANTA MONICA CA 90401
Gorman Brian other: General Counsel 233 WILSHIRE BLVD SUITE 280 SANTA MONICA CA 90401
Skolnick Phil officer: Chief Scientific Officer C/O DOV PHARMACEUTICAL, INC. 433 HACKENSACK AVENUE HACKENSACK NJ 07601
Crystal Roger director, 10 percent owner, officer: Chief Executive Officer 445 PARK AVE 10TH FL. NEW YORK NY 10022
Ellison Mark Jason Heath other: UK Managing Director C/O OPIANT PHARMACEUTICALS, INC. 201 SANTA MONICA BLVD., SUITE 500 SANTA MONICA CA 90401
Thompson Rahsaan other: General Counsel 233 WILSHIRE BOULEVARD SUITE 280 SANTA MONICA CA 90401
Mottiwala Aziz officer: Chief Commercial Officer 233 WILSHIRE BOULEVARD SUITE 280 SANTA MONICA CA 90401
Wolf Geoffrey 10 percent owner 445 PARK AVENUE 10TH FL. NEW YORK NY 10022
Pollack Kevin director, officer: See Remarks 150 RAINVILLE ROAD TARPON SPRINGS FL 34689
Meuse Joseph J director, 10 percent owner 211 FALMOUTH STREET WARRENTON VA 20186

Opiant Pharmaceuticals Headlines

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