HC Wainwright Reaffirms “Buy” Rating for OPKO Health (NASDAQ:OPK)

HC Wainwright reiterated their buy rating on shares of OPKO Health (NASDAQ:OPK) in a research report released on Tuesday morning, Benzinga reports. They currently have a $3.00 price target on the biotechnology company’s stock.

A number of other equities research analysts have also issued reports on the stock. Barrington Research upped their target price on shares of OPKO Health from $1.50 to $2.25 and gave the company an outperform rating in a research note on Thursday, August 8th. StockNews.com upgraded shares of OPKO Health to a sell rating in a research note on Saturday, July 27th. Finally, Piper Sandler cut their target price on shares of OPKO Health from $5.00 to $3.00 and set an overweight rating on the stock in a research note on Thursday, July 18th.

OPKO Health Stock Down 6.9 %

Shares of OPKO Health stock opened at $1.48 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.36 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $1.52 and a 200 day moving average price of $1.33. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -4.23 and a beta of 1.64. OPKO Health has a twelve month low of $0.85 and a twelve month high of $1.75.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. The company had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $184.70 million. OPKO Health had a negative net margin of 33.79% and a negative return on equity of 17.67%. The firm’s revenue for the quarter was down 31.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. Equities research analysts forecast that OPKO Health will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the sale, the insider now owns 2,871,570 shares in the company, valued at $91,373,357.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 736,644 shares of company stock worth $23,874,134 over the last quarter. 47.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On OPKO Health

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of OPKO Health by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,733,700 shares of the biotechnology company’s stock valued at $8,658,000 after purchasing an additional 183,754 shares during the period. BNP Paribas Financial Markets increased its stake in shares of OPKO Health by 349.8% in the fourth quarter. BNP Paribas Financial Markets now owns 271,872 shares of the biotechnology company’s stock valued at $411,000 after purchasing an additional 211,429 shares during the period. IPG Investment Advisors LLC acquired a new stake in shares of OPKO Health in the fourth quarter valued at approximately $30,000. Moseley Investment Management Inc. acquired a new stake in shares of OPKO Health in the first quarter valued at approximately $41,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of OPKO Health by 11.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 776,020 shares of the biotechnology company’s stock valued at $931,000 after purchasing an additional 79,525 shares during the period. Institutional investors and hedge funds own 64.63% of the company’s stock.

About OPKO Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.