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

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $3.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 74.42% from the stock’s current price.

Several other analysts have also commented on OPK. Barrington Research reissued an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a research report on Wednesday. StockNews.com upgraded shares of OPKO Health from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd.

OPKO Health Stock Down 3.4 %

Shares of NASDAQ:OPK opened at $1.72 on Wednesday. The business’s 50 day moving average is $1.61 and its 200 day moving average is $1.57. The stock has a market cap of $1.16 billion, a P/E ratio of -9.05 and a beta of 1.70. OPKO Health has a 52-week low of $0.86 and a 52-week high of $2.04. The company has a quick ratio of 2.69, a current ratio of 2.97 and a debt-to-equity ratio of 0.30.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $183.60 million for the quarter, compared to the consensus estimate of $155.42 million. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. Sell-side analysts predict that OPKO Health will post -0.25 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Phillip Md Et Al Frost acquired 500,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was acquired at an average price of $1.48 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the chief executive officer now owns 213,036,477 shares in the company, valued at approximately $315,293,985.96. The trade was a 0.24 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 764,971 shares of company stock worth $1,145,692. Corporate insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its position in shares of OPKO Health by 103.6% in the third quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 11,089 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in OPKO Health during the third quarter worth $45,000. Cibc World Markets Corp purchased a new position in OPKO Health during the fourth quarter valued at $45,000. Zacks Investment Management acquired a new stake in shares of OPKO Health in the fourth quarter valued at about $49,000. Finally, Ieq Capital LLC purchased a new stake in shares of OPKO Health during the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 64.63% of the company’s stock.

OPKO Health Company Profile

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.