OPKO Health (NASDAQ:OPK) Trading 3.3% Higher

Shares of OPKO Health, Inc. (NASDAQ:OPK) shot up 3.3% during trading on Wednesday . The stock traded as high as $1.25 and last traded at $1.25. 469,300 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 13,934,207 shares. The stock had previously closed at $1.21.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OPK. Barrington Research reissued an “outperform” rating and issued a $1.50 price target on shares of OPKO Health in a research report on Monday, April 1st. HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of OPKO Health in a research report on Wednesday, April 3rd. StockNews.com cut shares of OPKO Health from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $5.00 price target on shares of OPKO Health in a research report on Monday, April 1st.

OPKO Health Price Performance

The company’s 50-day moving average price is $1.07 and its 200-day moving average price is $1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.22 and a current ratio of 1.55.

OPKO Health (NASDAQ:OPK) last released its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $181.90 million during the quarter, compared to analysts’ expectations of $177.53 million. OPKO Health had a negative net margin of 21.76% and a negative return on equity of 12.69%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) EPS. As a group, sell-side analysts forecast that OPKO Health, Inc. will post -0.33 earnings per share for the current year.

Insider Transactions at OPKO Health

In related news, CEO Phillip Md Et Al Frost purchased 1,500,000 shares of OPKO Health stock in a transaction that occurred on Wednesday, February 7th. The stock was purchased at an average cost of $0.98 per share, with a total value of $1,470,000.00. Following the completion of the transaction, the chief executive officer now directly owns 207,368,225 shares in the company, valued at $203,220,860.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Phillip Md Et Al Frost purchased 1,500,000 shares of OPKO Health stock in a transaction that occurred on Wednesday, February 7th. The stock was purchased at an average cost of $0.98 per share, with a total value of $1,470,000.00. Following the completion of the transaction, the chief executive officer now directly owns 207,368,225 shares in the company, valued at $203,220,860.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard M. Krasno purchased 30,000 shares of OPKO Health stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $0.99 per share, with a total value of $29,700.00. Following the completion of the transaction, the director now owns 103,333 shares of the company’s stock, valued at $102,299.67. The disclosure for this purchase can be found here. In the last three months, insiders bought 4,630,000 shares of company stock valued at $4,422,700. Insiders own 47.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cetera Advisor Networks LLC increased its stake in OPKO Health by 33.7% in the first quarter. Cetera Advisor Networks LLC now owns 15,156 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 3,820 shares during the period. Creative Planning increased its stake in shares of OPKO Health by 4.6% during the second quarter. Creative Planning now owns 89,210 shares of the biotechnology company’s stock worth $226,000 after acquiring an additional 3,963 shares during the period. Captrust Financial Advisors increased its stake in shares of OPKO Health by 13.3% during the second quarter. Captrust Financial Advisors now owns 38,847 shares of the biotechnology company’s stock worth $98,000 after acquiring an additional 4,573 shares during the period. Forum Financial Management LP increased its stake in shares of OPKO Health by 48.5% during the first quarter. Forum Financial Management LP now owns 17,043 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 5,569 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of OPKO Health by 34.2% during the third quarter. Tower Research Capital LLC TRC now owns 31,220 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 7,948 shares during the period. 64.63% of the stock is currently owned by institutional investors and hedge funds.

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.