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

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $3.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 148.96% from the company’s previous close.

Several other equities research analysts have also recently issued reports on OPK. Piper Sandler restated an “overweight” rating and set a $5.00 price objective on shares of OPKO Health in a research report on Monday, April 1st. Barrington Research restated an “outperform” rating and set a $1.50 price objective on shares of OPKO Health in a research report on Monday, April 1st. Finally, StockNews.com cut shares of OPKO Health from a “hold” rating to a “sell” rating in a research report on Friday, March 1st.

OPKO Health Stock Performance

Shares of OPK stock traded down $0.10 during trading hours on Wednesday, hitting $1.21. The company’s stock had a trading volume of 680,779 shares, compared to its average volume of 12,285,499. The company has a 50 day moving average of $1.14 and a 200 day moving average of $1.22. OPKO Health has a 12-month low of $0.85 and a 12-month high of $2.24. The stock has a market cap of $839.87 million, a PE ratio of -4.82 and a beta of 1.81. The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $182.99 million. OPKO Health had a negative return on equity of 12.69% and a negative net margin of 21.76%. The business’s revenue was down 26.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. On average, sell-side analysts forecast that OPKO Health will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Phillip Md Et Al Frost bought 500,000 shares of the stock in a transaction on Monday, March 18th. The stock was bought at an average price of $0.87 per share, with a total value of $435,000.00. Following the completion of the purchase, the chief executive officer now directly owns 210,968,225 shares in the company, valued at approximately $183,542,355.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 3,100,000 shares of company stock valued at $2,923,000 over the last 90 days. 47.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. IPG Investment Advisors LLC acquired a new position in OPKO Health during the 4th quarter worth approximately $30,000. SlateStone Wealth LLC acquired a new position in shares of OPKO Health during the first quarter worth about $31,000. River Wealth Advisors LLC purchased a new position in OPKO Health in the third quarter worth $38,000. Moseley Investment Management Inc. purchased a new stake in shares of OPKO Health during the 1st quarter worth approximately $41,000. Finally, Northstar Group Inc. purchased a new position in shares of OPKO Health in the fourth quarter valued at $42,000. Hedge funds and other 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.