Opko Health (NASDAQ:OPK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Opko Health (NASDAQ:OPK) from a hold rating to a buy rating in a research note released on Friday, Zacks.com reports. They currently have $2.00 target price on the biotechnology company’s stock.

According to Zacks, “OPKO Health has gained significantly from RAYALDEE contribution in recent times. Further, OPKO Health’s utilization of the 4Kscore remains strong, with nearly 18,800 tests registered in the second quarter. These apart, the company’s clinical development programs look promising with a robust pipeline of candidates. Several metabolic and endocrinology programs that are underway should provide OPKO Health a competitive advantage. However, the company’s gross margin is under pressure at the moment. Moreover, the company faces cutthroat competition in the MedTech space. Sluggishness in the Services revenue segment remains a concern. OPKO Health underperformed its industry in a year’s time.”

Several other research firms have also commented on OPK. ValuEngine upgraded Opko Health from a sell rating to a hold rating in a research note on Thursday, August 1st. BidaskClub lowered Opko Health from a hold rating to a sell rating in a research note on Wednesday, October 16th. Finally, Barrington Research reiterated a buy rating and set a $4.00 price objective on shares of Opko Health in a research note on Thursday, September 12th.

Shares of Opko Health stock opened at $2.35 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 0.13. Opko Health has a twelve month low of $1.73 and a twelve month high of $3.93. The business has a 50-day moving average price of $2.03 and a 200 day moving average price of $2.11. The firm has a market cap of $1.29 billion, a PE ratio of -9.24 and a beta of 2.22.

Opko Health (NASDAQ:OPK) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Opko Health had a negative return on equity of 12.17% and a negative net margin of 26.55%. The firm had revenue of $226.40 million during the quarter, compared to analyst estimates of $225.07 million. During the same quarter in the previous year, the business earned ($0.01) EPS. Opko Health’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, sell-side analysts expect that Opko Health will post -0.41 EPS for the current year.

Large investors have recently bought and sold shares of the business. Strs Ohio increased its stake in Opko Health by 7.5% during the 2nd quarter. Strs Ohio now owns 323,200 shares of the biotechnology company’s stock worth $788,000 after buying an additional 22,500 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in shares of Opko Health by 100.0% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 20,000 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 10,000 shares during the last quarter. First Republic Investment Management Inc. acquired a new position in shares of Opko Health during the 2nd quarter worth approximately $115,000. JPMorgan Chase & Co. boosted its holdings in shares of Opko Health by 852.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 748,817 shares of the biotechnology company’s stock worth $1,662,000 after purchasing an additional 670,200 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Opko Health by 9.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 702,735 shares of the biotechnology company’s stock worth $1,715,000 after purchasing an additional 62,733 shares during the last quarter. Institutional investors own 24.55% of the company’s stock.

Opko Health Company Profile

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories, a clinical laboratory that offers laboratory testing services.

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