Piper Sandler Reiterates Overweight Rating for OPKO Health (NASDAQ:OPK)

OPKO Health (NASDAQ:OPK)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a research note issued on Tuesday, Benzinga reports. They presently have a $3.00 target price on the biotechnology company’s stock. Piper Sandler’s price target points to a potential upside of 79.10% from the company’s current price.

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

OPKO Health Stock Up 2.1 %

Shares of NASDAQ OPK traded up $0.04 during mid-day trading on Tuesday, reaching $1.68. The company had a trading volume of 1,977,948 shares, compared to its average volume of 7,763,263. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.63. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -4.80 and a beta of 1.64. The stock has a fifty day moving average of $1.50 and a two-hundred day moving average of $1.32. OPKO Health has a 12-month low of $0.85 and a 12-month high of $1.74.

OPKO Health (NASDAQ:OPK) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping 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 company had revenue of $182.20 million during the quarter, compared to the consensus estimate of $184.70 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue was down 31.3% compared to the same quarter last year. As a group, equities research analysts expect that OPKO Health will post -0.29 EPS for the current year.

Insider Transactions at OPKO Health

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

Hedge Funds Weigh In On OPKO Health

A number of institutional investors have recently modified their holdings of OPK. CIBC Asset Management Inc grew its stake in 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 last quarter. Virtu Financial LLC acquired a new stake in shares of OPKO Health in the first quarter valued at about $26,000. IPG Investment Advisors LLC bought a new position in shares of OPKO Health in the fourth quarter worth about $30,000. SlateStone Wealth LLC bought a new position in shares of OPKO Health in the first quarter worth about $31,000. Finally, Moseley Investment Management Inc. acquired a new position in shares of OPKO Health during the 1st quarter worth about $41,000. Institutional investors own 64.63% of the company’s stock.

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.