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

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $3.00 target price on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 69.97% from the company’s current price.

Several other equities analysts have also commented on the stock. StockNews.com upgraded shares of OPKO Health from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $2.25 price objective on shares of OPKO Health in a research note on Wednesday.

OPKO Health Price Performance

Shares of OPK stock traded down $0.04 during mid-day trading on Wednesday, hitting $1.77. The company had a trading volume of 920,059 shares, compared to its average volume of 4,668,457. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. The stock’s 50 day moving average price is $1.60 and its 200-day moving average price is $1.56. OPKO Health has a 52-week low of $0.86 and a 52-week high of $2.04. The company has a market capitalization of $1.19 billion, a P/E ratio of -9.29 and a beta of 1.70.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. OPKO Health had a negative net margin of 18.65% and a negative return on equity of 9.76%. The business had revenue of $183.60 million for the quarter, compared to analysts’ expectations of $155.42 million. Equities research analysts forecast that OPKO Health will post -0.25 earnings per share for the current year.

Insider Activity at OPKO Health

In other OPKO Health news, CEO Phillip Md Et Al Frost bought 125,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $1.59 per share, with a total value of $198,750.00. Following the completion of the purchase, the chief executive officer now owns 212,536,477 shares in the company, valued at $337,932,998.43. This represents a 0.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have bought 889,971 shares of company stock worth $1,344,442. Insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

Several hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP boosted its stake in shares of OPKO Health by 9.6% during 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 purchasing an additional 4,284,336 shares during the period. Millennium Management LLC boosted its position in OPKO Health by 85.3% in the 4th quarter. Millennium Management LLC now owns 4,588,526 shares of the biotechnology company’s stock valued at $6,745,000 after buying an additional 2,112,382 shares during the period. Northern Trust Corp grew its stake in OPKO Health by 4.7% in the 4th quarter. Northern Trust Corp now owns 3,697,774 shares of the biotechnology company’s stock worth $5,436,000 after acquiring an additional 164,847 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of OPKO Health by 143.6% during the fourth quarter. Lazard Asset Management LLC now owns 2,548,667 shares of the biotechnology company’s stock worth $3,746,000 after acquiring an additional 1,502,342 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of OPKO Health by 136.1% during the fourth quarter. Two Sigma Investments LP now owns 1,647,567 shares of the biotechnology company’s stock valued at $2,422,000 after acquiring an additional 949,671 shares in the last quarter. 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.