Opko Health Sees Unusually-High Trading Volume Following Insider Buying Activity (OPK)
Opko Health (NYSE:OPK) shares saw strong trading volume on Friday after an insider bought additional shares in the company, ARN reports. 4,238,248 shares traded hands during trading, an increase of 33% from the previous session’s volume of 3,181,390 shares.The stock last traded at $9.09 and had previously closed at $8.77.
Specifically, CEO Phillip Md Et Al Frost purchased 20,000 shares of Opko Health stock on the open market in a transaction that occurred on Thursday, July 10th. The shares were purchased at an average price of $8.79 per share, with a total value of $175,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on OPK. Analysts at Jefferies Group reiterated a “buy” rating on shares of Opko Health in a research note on Wednesday, June 25th. They now have a $11.00 price target on the stock, down previously from $11.50. Separately, analysts at TheStreet upgraded shares of Opko Health from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, analysts at TheStreet downgraded shares of Opko Health from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Opko Health has an average rating of “Buy” and a consensus target price of $12.13.
The stock’s 50-day moving average is $8.96 and its 200-day moving average is $8.74. The company’s market cap is $3.720 billion. Opko Health also saw a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 48,981,522 shares, a decline of 5.6% from the June 13th total of 51,904,149 shares. Based on an average daily trading volume, of 3,771,645 shares, the days-to-cover ratio is currently 13.0 days. Currently, 22.8% of the company’s shares are short sold.
Opko Health (NYSE:OPK) last released its earnings data on Friday, May 9th. The company reported ($0.11) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.10) by $0.01. The company had revenue of $22.30 million for the quarter, compared to the consensus estimate of $22.77 million. On average, analysts predict that Opko Health will post $-0.37 earnings per share for the current fiscal year.
OPKO Health, Inc (NYSE:OPK) is a multi-national biopharmaceutical and diagnostics company.
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