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

OPKO Health (NASDAQ:OPK)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a report released on Tuesday, Benzinga reports. They presently have a $3.00 target price on the biotechnology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 85.19% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of OPKO Health to a “sell” rating in a research note on Saturday, July 27th. Barrington Research boosted their target price on OPKO Health from $1.50 to $2.25 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of OPKO Health in a research note on Tuesday.

OPKO Health Price Performance

Shares of NASDAQ:OPK opened at $1.62 on Tuesday. The firm has a market capitalization of $1.13 billion, a PE ratio of -4.63 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 1-year low of $0.85 and a 1-year high of $1.75. The business’s 50 day moving average is $1.51 and its 200-day moving average is $1.32.

OPKO Health (NASDAQ:OPK) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share 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 for the quarter, compared to analyst estimates of $184.70 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm’s revenue was down 31.3% on a year-over-year basis. Sell-side analysts predict that OPKO Health will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 12,994 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $29.35, for a total value of $381,373.90. Following the sale, the insider now directly owns 2,971,570 shares of the company’s stock, valued at approximately $87,215,579.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 736,644 shares of company stock valued at $23,874,134. 47.26% of the stock is owned by company insiders.

Institutional Trading of OPKO Health

A number of institutional investors have recently made changes to their positions in the business. Rubric Capital Management LP grew its position 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 purchasing an additional 39,486,490 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in OPKO Health during the second quarter worth about $1,840,000. Squarepoint Ops LLC bought a new stake in OPKO Health during the second quarter worth about $592,000. Lazard Asset Management LLC acquired a new position in OPKO Health during the first quarter valued at approximately $258,000. Finally, BNP Paribas Financial Markets grew its stake in OPKO Health by 349.8% in the fourth quarter. BNP Paribas Financial Markets now owns 271,872 shares of the biotechnology company’s stock valued at $411,000 after purchasing an additional 211,429 shares in 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.