Piper Sandler Reiterates “Overweight” Rating for OPKO Health (NASDAQ:OPK)

Piper Sandler reiterated their overweight rating on shares of OPKO Health (NASDAQ:OPK) in a report issued on Tuesday, Benzinga reports. Piper Sandler currently has a $3.00 price objective on the biotechnology company’s stock.

A number of other research firms also recently issued reports on OPK. StockNews.com raised shares of OPKO Health to a sell rating in a report on Saturday, July 27th. HC Wainwright reaffirmed a buy rating and set a $3.00 price objective on shares of OPKO Health in a report on Tuesday. Finally, Barrington Research lifted their price objective on shares of OPKO Health from $1.50 to $2.25 and gave the stock an outperform rating in a report on Thursday, August 8th.

OPKO Health Stock Performance

NASDAQ OPK opened at $1.48 on Tuesday. The company has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $1.33. OPKO Health has a 12-month low of $0.85 and a 12-month high of $1.75. The company has a current ratio of 1.63, a quick ratio of 1.36 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.03 billion, a P/E ratio of -4.23 and a beta of 1.64.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted ($0.03) EPS. OPKO Health’s revenue was down 31.3% compared to the same quarter last year. Sell-side analysts predict that OPKO Health will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 3,508,603 shares in the company, valued at approximately $93,434,097.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 736,644 shares of company stock valued at $23,874,134. 47.26% of the stock is owned by insiders.

Institutional Investors Weigh In On OPKO Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc increased its position in shares of 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 purchased a new stake in OPKO Health in the first quarter worth $26,000. IPG Investment Advisors LLC purchased a new stake in OPKO Health in the fourth quarter worth $30,000. SlateStone Wealth LLC purchased a new stake in OPKO Health in the first quarter worth $31,000. Finally, Moseley Investment Management Inc. purchased a new stake in OPKO Health in the first quarter worth $41,000. 64.63% of the stock is currently owned by institutional investors.

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.