OPKO Health (NASDAQ:OPK) Receives Overweight Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of OPKO Health (NASDAQ:OPK) in a report published on Tuesday, Benzinga reports. The firm currently has a $3.00 price objective on the biotechnology company’s stock.

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

OPKO Health Price Performance

Shares of OPKO Health stock opened at $1.59 on Tuesday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -4.54 and a beta of 1.64. The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.33. OPKO Health has a 52 week low of $0.85 and a 52 week high of $1.75.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.08. The company had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $184.70 million. OPKO Health had a negative return on equity of 17.67% and a negative net margin of 33.79%. The firm’s revenue was down 31.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) EPS. As a group, analysts expect that OPKO Health will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of OPKO Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP increased its position in shares of OPKO Health by 800.0% during the second quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock worth $55,528,000 after acquiring an additional 39,486,490 shares during the period. Y.D. More Investments Ltd purchased a new position in OPKO Health during the 2nd quarter worth $1,840,000. Squarepoint Ops LLC bought a new stake in OPKO Health during the 2nd quarter valued at $592,000. Lazard Asset Management LLC purchased a new stake in shares of OPKO Health in the 1st quarter worth $258,000. Finally, BNP Paribas Financial Markets grew its position in shares of OPKO Health by 349.8% during the 4th quarter. BNP Paribas Financial Markets now owns 271,872 shares of the biotechnology company’s stock worth $411,000 after buying an additional 211,429 shares in the last quarter. 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.