OPKO Health (NASDAQ:OPK) Earns “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of OPKO Health (NASDAQ:OPK) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $3.00 target price on the biotechnology company’s stock.

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

OPKO Health Stock Performance

Shares of OPKO Health stock opened at $1.59 on Tuesday. OPKO Health has a 1 year low of $0.85 and a 1 year high of $1.75. The firm’s 50-day moving average is $1.52 and its 200 day moving average is $1.33. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -4.54 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.63 and a quick ratio of 1.36.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $184.70 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was down 31.3% on a year-over-year basis. Sell-side analysts anticipate that OPKO Health will post -0.29 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of OPKO Health stock in a transaction on Monday, August 19th. The stock was sold at an average price of $34.49, for a total value of $1,724,500.00. Following the completion of the sale, the insider now owns 2,646,972 shares of the company’s stock, valued at $91,294,064.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 736,644 shares of company stock valued at $23,874,134 in the last ninety days. 47.26% of the stock is currently owned by company insiders.

Institutional Trading of OPKO Health

Large investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its position in OPKO Health by 79.1% during the second quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 8,978 shares in the last quarter. Virtu Financial LLC bought a new position in shares of OPKO Health in the first quarter worth about $26,000. IPG Investment Advisors LLC purchased a new position in shares of OPKO Health during the 4th quarter valued at about $30,000. SlateStone Wealth LLC purchased a new position in shares of OPKO Health during the 1st quarter valued at about $31,000. Finally, Moseley Investment Management Inc. bought a new position in shares of OPKO Health during the 1st quarter valued at approximately $41,000. 64.63% of the stock is currently owned by institutional investors.

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.