OPKO Health (NASDAQ:OPK) Shares Gap Up – What’s Next?

OPKO Health, Inc. (NASDAQ:OPK)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1.84, but opened at $1.94. OPKO Health shares last traded at $1.84, with a volume of 582,582 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OPK shares. StockNews.com upgraded shares of OPKO Health from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Barrington Research reaffirmed an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Wednesday.

OPKO Health Stock Performance

The firm has a market capitalization of $1.20 billion, a PE ratio of -9.37 and a beta of 1.70. The company has a current ratio of 2.97, a quick ratio of 2.69 and a debt-to-equity ratio of 0.30. The business’s 50 day simple moving average is $1.60 and its two-hundred day simple moving average is $1.56.

OPKO Health (NASDAQ:OPK) last posted its earnings results on Thursday, February 27th. The biotechnology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $183.60 million for the quarter, compared to the consensus estimate of $155.42 million. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. Research analysts expect that OPKO Health, Inc. will post -0.25 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Phillip Md Et Al Frost acquired 47,537 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was bought at an average cost of $1.47 per share, for a total transaction of $69,879.39. Following the purchase, the chief executive officer now owns 213,234,014 shares in the company, valued at $313,454,000.58. The trade was a 0.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 889,971 shares of company stock valued at $1,344,442 in the last 90 days. Company insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

Large investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP lifted its position in shares of OPKO Health by 9.6% in the third quarter. Rubric Capital Management LP now owns 48,706,640 shares of the biotechnology company’s stock valued at $72,573,000 after acquiring an additional 4,284,336 shares in the last quarter. Barclays PLC raised its stake in OPKO Health by 154.5% during the 3rd quarter. Barclays PLC now owns 543,336 shares of the biotechnology company’s stock valued at $810,000 after purchasing an additional 329,870 shares during the period. BNP Paribas Financial Markets boosted its position in shares of OPKO Health by 736.7% during the third quarter. BNP Paribas Financial Markets now owns 246,967 shares of the biotechnology company’s stock worth $368,000 after acquiring an additional 217,450 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of OPKO Health during the 3rd quarter valued at about $190,000. Finally, FMR LLC grew its holdings in OPKO Health by 103.6% during the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 11,089 shares in the last quarter. Hedge funds and other institutional investors 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.