OPKO Health (NASDAQ:OPK) Given Buy Rating at HC Wainwright

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $3.00 price target on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 102.70% from the company’s current price.

A number of other research analysts have also recently commented on OPK. Barrington Research reaffirmed an “outperform” rating and issued a $2.25 target price on shares of OPKO Health in a research report on Friday, September 20th. StockNews.com raised shares of OPKO Health to a “sell” rating in a research 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 research report on Tuesday, September 17th.

OPKO Health Stock Performance

Shares of OPK stock opened at $1.48 on Thursday. 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 twelve month low of $0.85 and a twelve month high of $1.75. The company’s 50-day moving average price is $1.53 and its 200-day moving average price is $1.34. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -4.23 and a beta of 1.64.

OPKO Health (NASDAQ:OPK) last posted 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 company 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 posted ($0.03) EPS. OPKO Health’s revenue was down 31.3% on a year-over-year basis. As a group, equities analysts predict that OPKO Health 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 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the sale, the insider now directly owns 2,646,972 shares of the company’s stock, valued at approximately $91,294,064.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 736,644 shares of company stock valued at $23,874,134 in the last three months. 47.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OPK. Rubric Capital Management LP raised 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 acquiring an additional 39,486,490 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of OPKO Health in the 2nd quarter valued at approximately $1,840,000. Squarepoint Ops LLC acquired a new stake in shares of OPKO Health in the 2nd quarter valued at $592,000. Lazard Asset Management LLC purchased a new stake in shares of OPKO Health during the 1st quarter worth $258,000. Finally, BNP Paribas Financial Markets lifted its position in shares of OPKO Health by 349.8% during the 4th quarter. BNP Paribas Financial Markets now owns 271,872 shares of the biotechnology company’s stock worth $411,000 after purchasing an additional 211,429 shares during the last quarter. 64.63% of the stock is owned by institutional investors and hedge funds.

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.