Barrington Research Reaffirms Outperform Rating for OPKO Health (NASDAQ:OPK)

Barrington Research reaffirmed their outperform rating on shares of OPKO Health (NASDAQ:OPK) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $2.25 price target on the biotechnology company’s stock.

Several other equities research analysts also recently commented on the stock. HC Wainwright reissued a buy rating and set a $3.00 target price on shares of OPKO Health in a research report on Tuesday, September 17th. StockNews.com raised OPKO Health to a sell rating in a report on Saturday, July 27th. Finally, Piper Sandler restated an overweight rating and issued a $3.00 target price on shares of OPKO Health in a report on Tuesday, September 17th.

OPKO Health Stock Up 1.4 %

Shares of NASDAQ:OPK opened at $1.50 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.63. OPKO Health has a 52-week low of $0.85 and a 52-week high of $1.75. The business’s 50 day simple moving average is $1.52 and its two-hundred day simple moving average is $1.34. The firm has a market cap of $1.05 billion, a P/E ratio of -4.29 and a beta of 1.64.

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

Insider Activity at OPKO Health

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the completion of the transaction, the insider now directly owns 2,646,972 shares of the company’s stock, valued at $91,294,064.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 736,644 shares of company stock valued at $23,874,134 over the last ninety days. Corporate insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

A number of hedge funds and other institutional investors have recently made changes to their positions in OPK. IPG Investment Advisors LLC purchased a new position in OPKO Health in the fourth quarter valued at approximately $30,000. CIBC Asset Management Inc lifted its position in shares of OPKO Health by 79.1% during the 2nd quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 8,978 shares during the last quarter. Virtu Financial LLC bought a new position in shares of OPKO Health during the 1st quarter worth $26,000. SlateStone Wealth LLC purchased a new stake in OPKO Health in the 1st quarter worth about $31,000. Finally, Moseley Investment Management Inc. bought a new stake in OPKO Health in the 1st quarter valued at about $41,000. 64.63% of the stock is owned by hedge funds and other institutional investors.

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.