Piper Sandler Cuts OPKO Health (NASDAQ:OPK) Price Target to $3.00

OPKO Health (NASDAQ:OPK) had its target price cut by Piper Sandler from $5.00 to $3.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a buy rating and issued a $3.00 price target on shares of OPKO Health in a report on Wednesday, May 8th. StockNews.com raised shares of OPKO Health to a sell rating in a research note on Tuesday, June 4th. Finally, Barrington Research reissued an outperform rating and issued a $1.50 price target on shares of OPKO Health in a research note on Monday, April 1st.

OPKO Health Stock Performance

OPKO Health stock opened at $1.49 on Thursday. OPKO Health has a 1-year low of $0.85 and a 1-year high of $2.18. The firm has a market cap of $1.04 billion, a P/E ratio of -4.26 and a beta of 1.65. The company has a current ratio of 1.91, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $1.32 and a 200-day moving average of $1.17.

OPKO Health (NASDAQ:OPK) last released its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). OPKO Health had a negative return on equity of 17.89% and a negative net margin of 31.44%. The business had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $182.99 million. During the same quarter last year, the business posted ($0.02) EPS. The company’s quarterly revenue was down 26.9% compared to the same quarter last year. Sell-side analysts expect that OPKO Health will post -0.36 EPS for the current year.

Insider Buying and Selling at OPKO Health

In other OPKO Health news, CEO Phillip Md Et Al Frost bought 100,000 shares of OPKO Health stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $1.27 per share, with a total value of $127,000.00. Following the transaction, the chief executive officer now directly owns 211,232,222 shares of the company’s stock, valued at $268,264,921.94. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other OPKO Health news, CEO Phillip Md Et Al Frost bought 100,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of $1.27 per share, for a total transaction of $127,000.00. Following the completion of the acquisition, the chief executive officer now owns 211,232,222 shares of the company’s stock, valued at $268,264,921.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $26.63, for a total value of $1,331,500.00. Following the completion of the sale, the insider now directly owns 3,508,603 shares in the company, valued at $93,434,097.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,200 shares of company stock valued at $3,572,257. 47.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OPKO Health

Several institutional investors and hedge funds have recently modified their holdings of OPK. Virtu Financial LLC bought a new position in OPKO Health in the 1st quarter worth about $26,000. IPG Investment Advisors LLC purchased a new position in OPKO Health in the fourth quarter worth about $30,000. SlateStone Wealth LLC bought a new stake in shares of OPKO Health during the first quarter valued at approximately $31,000. Moseley Investment Management Inc. purchased a new position in OPKO Health in the 1st quarter worth approximately $41,000. Finally, Headlands Technologies LLC purchased a new stake in OPKO Health during the 1st quarter valued at $47,000. 64.63% of the stock is currently owned by 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.