OPKO Health (NASDAQ:OPK) Trading 5% Higher

OPKO Health, Inc. (NASDAQ:OPK)’s stock price traded up 5% during trading on Wednesday . The company traded as high as $1.58 and last traded at $1.57. 1,479,272 shares were traded during trading, a decline of 80% from the average session volume of 7,553,453 shares. The stock had previously closed at $1.49.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OPK shares. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Thursday, September 26th. Piper Sandler restated an “overweight” rating and set a $3.00 price objective on shares of OPKO Health in a research note on Tuesday, September 17th. StockNews.com raised OPKO Health to a “sell” rating in a report on Saturday, July 27th. Finally, Barrington Research reissued an “outperform” rating and set a $2.25 target price on shares of OPKO Health in a report on Friday, September 20th.

OPKO Health Stock Up 1.0 %

The firm has a 50 day simple moving average of $1.53 and a two-hundred day simple moving average of $1.36. The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.05 billion, a P/E ratio of -4.26 and a beta of 1.64.

OPKO Health (NASDAQ:OPK) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. The firm 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 business’s revenue for the quarter was down 31.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, equities research analysts expect that OPKO Health, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at OPKO Health

In related news, major shareholder Opko Health, Inc. sold 36,118 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $28.24, for a total transaction of $1,019,972.32. Following the sale, the insider now owns 3,433,403 shares of the company’s stock, valued at approximately $96,959,300.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 672,562 shares of company stock worth $22,145,099 over the last quarter. Corporate insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

Large investors have recently modified their holdings of the business. Algert Global LLC bought a new position in OPKO Health during the 2nd quarter worth approximately $44,000. Squarepoint Ops LLC bought a new position in OPKO Health during the second quarter worth $592,000. Rubric Capital Management LP lifted its holdings in OPKO Health by 800.0% in the second quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock valued at $55,528,000 after buying an additional 39,486,490 shares during the period. Hollencrest Capital Management boosted its position in OPKO Health by 14.0% during the second quarter. Hollencrest Capital Management now owns 90,000 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 11,020 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in OPKO Health during the 2nd quarter worth about $1,840,000. 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.