OPKO Health (NASDAQ:OPK) Rating Reiterated by HC Wainwright

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They currently have a $3.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 97.37% from the company’s current price.

Several other analysts also recently issued reports on the company. Barrington Research reissued an “outperform” rating and issued a $2.25 price target on shares of OPKO Health in a report on Friday, September 20th. StockNews.com raised shares of OPKO Health to a “sell” rating in a report on Saturday, July 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Tuesday, September 17th.

OPKO Health Stock Up 2.0 %

OPK stock opened at $1.52 on Thursday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -4.34 and a beta of 1.64. OPKO Health has a 1-year low of $0.85 and a 1-year high of $1.75. The firm has a fifty day moving average price of $1.53 and a two-hundred day moving average price of $1.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.63 and a quick ratio of 1.36.

OPKO Health (NASDAQ:OPK) last announced 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. OPKO Health had a negative net margin of 33.79% and a negative return on equity of 17.67%. The business had revenue of $182.20 million during the quarter, compared to the consensus estimate of $184.70 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was down 31.3% compared to the same quarter last year. Research analysts predict that OPKO Health will post -0.29 EPS for the current year.

Insider Activity at OPKO Health

In other news, major shareholder Opko Health, Inc. sold 14,082 shares of OPKO Health stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total transaction of $397,534.86. Following the transaction, the insider now directly owns 3,469,521 shares in the company, valued at approximately $97,944,577.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 736,644 shares of company stock worth $23,874,134 over the last quarter. 47.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OPKO Health

A number of institutional investors and hedge funds have recently modified their holdings of OPK. Algert Global LLC acquired a new stake in OPKO Health during the 2nd quarter worth about $44,000. Squarepoint Ops LLC purchased a new position in shares of OPKO Health in the second quarter worth approximately $592,000. Rubric Capital Management LP raised its holdings in shares of OPKO Health by 800.0% during the second quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock valued at $55,528,000 after acquiring an additional 39,486,490 shares during the period. Hollencrest Capital Management lifted its position in shares of OPKO Health by 14.0% in the 2nd quarter. Hollencrest Capital Management now owns 90,000 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 11,020 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in OPKO Health in the 2nd quarter worth approximately $1,840,000. Institutional investors and hedge funds own 64.63% of the company’s stock.

OPKO Health Company Profile

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.