OPKO Health (NASDAQ:OPK) Receives Buy Rating from HC Wainwright

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $3.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 82.93% from the stock’s current price.

Several other research analysts also recently commented on the stock. StockNews.com raised shares of OPKO Health to a “sell” rating in a report on Saturday, July 27th. Piper Sandler dropped their target price on OPKO Health from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. Finally, Barrington Research lifted their price target on OPKO Health from $1.50 to $2.25 and gave the company an “outperform” rating in a research report on Thursday, August 8th.

OPKO Health Stock Performance

NASDAQ:OPK opened at $1.64 on Tuesday. The company has a market capitalization of $1.14 billion, a P/E ratio of -4.69 and a beta of 1.64. The business has a fifty day simple moving average of $1.50 and a two-hundred day simple moving average of $1.31. 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 has a 1 year low of $0.85 and a 1 year high of $1.74.

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, topping the consensus estimate of ($0.09) by $0.08. The company had revenue of $182.20 million during the quarter, compared to analyst estimates of $184.70 million. OPKO Health had a negative return on equity of 17.67% and a negative net margin of 33.79%. The firm’s revenue for the quarter was down 31.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. On average, analysts expect that OPKO Health will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other OPKO Health news, major shareholder Opko Health, Inc. sold 50,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were 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 approximately $91,294,064.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 736,644 shares of company stock valued at $23,874,134. Company insiders own 47.26% of the company’s stock.

Institutional Investors Weigh In On OPKO Health

Several large investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP raised its holdings in shares of OPKO Health by 800.0% in the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in OPKO Health by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,733,700 shares of the biotechnology company’s stock valued at $8,658,000 after purchasing an additional 183,754 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in OPKO Health during the second quarter valued at approximately $1,840,000. AWM Investment Company Inc. grew its stake in OPKO Health by 18.2% in the 1st quarter. AWM Investment Company Inc. now owns 1,300,000 shares of the biotechnology company’s stock worth $1,560,000 after buying an additional 200,000 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in shares of OPKO Health by 2.5% in the 2nd quarter. PFG Investments LLC now owns 960,965 shares of the biotechnology company’s stock worth $1,201,000 after buying an additional 23,700 shares during the last quarter. Institutional investors 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.