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

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $3.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 85.19% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Barrington Research upped their target price on OPKO Health from $1.50 to $2.25 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Piper Sandler dropped their price target on shares of OPKO Health from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. Finally, StockNews.com upgraded OPKO Health to a “sell” rating in a research report on Saturday, July 27th.

OPKO Health Price Performance

NASDAQ:OPK opened at $1.62 on Tuesday. OPKO Health has a 12-month low of $0.85 and a 12-month high of $1.75. The stock’s 50 day moving average price is $1.51 and its two-hundred day moving average price is $1.32. 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 firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -4.63 and a beta of 1.64.

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

Insider Transactions at OPKO Health

In other news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the completion of the sale, the insider now directly owns 3,508,603 shares of the company’s stock, valued at $93,434,097.89. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 736,644 shares of company stock valued at $23,874,134 over the last ninety days. 47.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On OPKO Health

Hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP increased its position in shares of OPKO Health by 800.0% during the 2nd quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock valued at $55,528,000 after purchasing an additional 39,486,490 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in OPKO Health by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,733,700 shares of the biotechnology company’s stock worth $8,658,000 after buying an additional 183,754 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in shares of OPKO Health during the second quarter worth about $1,840,000. AWM Investment Company Inc. increased its holdings in shares of OPKO Health by 18.2% in the 1st quarter. AWM Investment Company Inc. now owns 1,300,000 shares of the biotechnology company’s stock worth $1,560,000 after buying an additional 200,000 shares during the last quarter. Finally, PFG Investments LLC increased its stake in OPKO Health by 2.5% in the second quarter. PFG Investments LLC now owns 960,965 shares of the biotechnology company’s stock valued at $1,201,000 after acquiring an additional 23,700 shares during the last quarter. 64.63% of the stock is owned by hedge funds and other institutional investors.

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.