HC Wainwright Reaffirms “Buy” Rating for OPKO Health (NASDAQ:OPK)

HC Wainwright restated their buy rating on shares of OPKO Health (NASDAQ:OPK) in a research note published on Thursday, Benzinga reports. They currently have a $3.00 price target on the biotechnology company’s stock.

Several other brokerages also recently commented on OPK. Piper Sandler reissued an overweight rating and issued a $3.00 price objective on shares of OPKO Health in a research note on Tuesday, September 17th. StockNews.com raised shares of OPKO Health to a sell rating in a research note on Saturday, July 27th. Finally, Barrington Research restated an outperform rating and issued a $2.25 price target on shares of OPKO Health in a research report on Friday, September 20th.

OPKO Health Stock Up 2.0 %

OPKO Health stock opened at $1.52 on Thursday. The firm has a market capitalization of $1.06 billion, a PE ratio of -4.34 and a beta of 1.64. The company’s 50-day moving average is $1.53 and its 200-day moving average is $1.36. OPKO Health has a fifty-two week low of $0.85 and a fifty-two week high of $1.75. 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 data on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share (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 during the quarter, compared to the consensus estimate of $184.70 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was down 31.3% compared to the same quarter last year. Sell-side analysts anticipate that OPKO Health will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other OPKO Health news, major shareholder Opko Health, Inc. sold 14,082 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were 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 $97,944,577.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 686,644 shares of company stock valued at $22,542,634 over the last ninety days. 47.26% of the stock is owned by corporate insiders.

Institutional Trading of OPKO Health

Large investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its stake in shares of OPKO Health by 79.1% in the second quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 8,978 shares in the last quarter. Virtu Financial LLC purchased a new position in OPKO Health during the first quarter valued at approximately $26,000. SlateStone Wealth LLC purchased a new position in OPKO Health during the first quarter valued at approximately $31,000. Moseley Investment Management Inc. bought a new stake in OPKO Health during the first quarter valued at approximately $41,000. Finally, Algert Global LLC bought a new stake in OPKO Health during the second quarter valued at approximately $44,000. Hedge funds and other 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.