OPKO Health (NASDAQ:OPK) Stock Rating Reaffirmed by Piper Sandler

OPKO Health (NASDAQ:OPK)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Sandler in a report issued on Tuesday, Benzinga reports. They currently have a $3.00 price objective on the biotechnology company’s stock. Piper Sandler’s target price would suggest a potential upside of 79.10% from the stock’s previous close.

Several other analysts have also commented on OPK. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price target on shares of OPKO Health in a research note on Tuesday. Barrington Research boosted their target price on shares of OPKO Health from $1.50 to $2.25 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of OPKO Health to a “sell” rating in a research report on Saturday, July 27th.

OPKO Health Stock Performance

OPKO Health stock traded up $0.04 on Tuesday, hitting $1.68. The company’s stock had a trading volume of 1,977,948 shares, compared to its average volume of 7,763,263. OPKO Health has a one year low of $0.85 and a one year high of $1.74. The firm has a market cap of $1.17 billion, a P/E ratio of -4.80 and a beta of 1.64. 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 company has a fifty day moving average price of $1.50 and a 200-day moving average price of $1.32.

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 analysts’ consensus estimates 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 net margin of 33.79% and a negative return on equity of 17.67%. The firm’s revenue for the quarter was down 31.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. On average, equities analysts anticipate that OPKO Health will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Opko Health, Inc. sold 14,082 shares of OPKO Health stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total value of $397,534.86. Following the completion of the transaction, the insider now directly owns 3,469,521 shares of the company’s stock, valued at $97,944,577.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 736,644 shares of company stock valued at $23,874,134. 47.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OPKO Health

A number of institutional investors have recently modified their holdings of OPK. IPG Investment Advisors LLC acquired a new stake in shares of OPKO Health in the fourth quarter valued at approximately $30,000. CIBC Asset Management Inc increased its stake in shares of OPKO Health by 79.1% in the 2nd quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 8,978 shares during the period. Virtu Financial LLC bought a new stake in shares of OPKO Health during the first quarter worth $26,000. SlateStone Wealth LLC acquired a new position in shares of OPKO Health during the first quarter valued at $31,000. Finally, Moseley Investment Management Inc. bought a new position in OPKO Health in the first quarter valued at about $41,000. 64.63% of the stock is owned by institutional investors.

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.