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

HC Wainwright restated their buy rating on shares of OPKO Health (NASDAQ:OPK) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $3.00 price target on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on OPK. Barrington Research restated an outperform rating and set a $2.25 target price on shares of OPKO Health in a research note 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 reissued 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 2.0 %

Shares of OPKO Health stock opened at $1.52 on Thursday. The company’s fifty day simple moving average is $1.53 and its two-hundred day simple moving average is $1.36. The company has a market cap of $1.06 billion, a P/E ratio of -4.34 and a beta of 1.64. The company has a current ratio of 1.63, a quick ratio of 1.36 and a debt-to-equity ratio of 0.13. OPKO Health has a 12-month low of $0.85 and a 12-month high of $1.75.

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

Insider Buying and Selling at OPKO Health

In other OPKO Health news, major shareholder Opko Health, Inc. sold 12,994 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total transaction of $381,373.90. Following the completion of the sale, the insider now directly owns 2,971,570 shares of the company’s stock, valued at approximately $87,215,579.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 686,644 shares of company stock valued at $22,542,634 in the last three months. 47.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OPKO Health

Several large investors have recently bought and sold shares of OPK. CIBC Asset Management Inc increased its position in OPKO Health by 79.1% in the second quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 8,978 shares during the last quarter. Virtu Financial LLC bought a new stake in OPKO Health in the first quarter worth $26,000. SlateStone Wealth LLC bought a new stake in OPKO Health in the first quarter worth $31,000. Moseley Investment Management Inc. purchased a new position in OPKO Health during the first quarter worth $41,000. Finally, Algert Global LLC purchased a new position in OPKO Health during the second quarter worth $44,000. 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.