Barrington Research Reaffirms Outperform Rating for OPKO Health (NASDAQ:OPK)

Barrington Research reiterated their outperform rating on shares of OPKO Health (NASDAQ:OPK) in a research report released on Friday morning, Benzinga reports. Barrington Research currently has a $2.25 price objective on the biotechnology company’s stock.

A number of other brokerages also recently commented on OPK. HC Wainwright reissued a buy rating and set a $3.00 price objective on shares of OPKO Health in a research report on Tuesday, September 17th. StockNews.com upgraded 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 price objective on shares of OPKO Health in a research report on Tuesday, September 17th.

OPKO Health Price Performance

OPKO Health stock opened at $1.48 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.13. OPKO Health has a 52-week low of $0.85 and a 52-week high of $1.75. The firm has a market cap of $1.03 billion, a PE ratio of -4.23 and a beta of 1.64. The company’s 50 day moving average is $1.52 and its two-hundred day moving average is $1.34.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings data 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. The business had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $184.70 million. OPKO Health had a negative return on equity of 17.67% and a negative net margin of 33.79%. The company’s revenue for the quarter was down 31.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) earnings per share. On average, research analysts expect that OPKO Health will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other OPKO Health news, major shareholder Opko Health, Inc. sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 2,646,972 shares in the company, valued at $91,294,064.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 736,644 shares of company stock worth $23,874,134 over the last 90 days. 47.26% of the stock is owned by insiders.

Institutional Trading of OPKO Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc grew its stake in OPKO Health by 79.1% during the 2nd quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock worth $25,000 after buying an additional 8,978 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of OPKO Health in the 1st quarter valued at $26,000. IPG Investment Advisors LLC purchased a new stake in OPKO Health in the 4th quarter valued at $30,000. SlateStone Wealth LLC purchased a new stake in OPKO Health in the 1st quarter valued at $31,000. Finally, Moseley Investment Management Inc. acquired a new stake in OPKO Health during the 1st quarter worth $41,000. 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.