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Shares of Opko Health (NYSE:OPK) rose 3.7% on Wednesday after an insider bought additional shares in the company, Stock Ratings Network reports. The company traded as high as $9.08 and last traded at $8.99, with a volume of 2,795,813 shares trading hands. The stock had previously closed at $8.67.

Specifically, CEO Phillip Md Et Al Frost bought 30,000 shares of Opko Health stock on the open market in a transaction that occurred on Tuesday, July 22nd. The stock was purchased at an average price of $8.66 per share, for a total transaction of $259,800.00. The purchase was disclosed in a filing 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.13.

The stock has a 50-day moving average of $8.93 and a 200-day moving average of $8.75. The company’s market cap is $3.732 billion. Opko Health also was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 48,981,522 shares, a drop of 5.6% from the June 13th total of 51,904,149 shares. Based on an average trading volume of 3,771,645 shares, the short-interest ratio is presently 13.0 days. Currently, 22.8% of the company’s stock are sold short.

Opko Health (NYSE:OPK) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the 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. Analysts expect that Opko Health will post $-0.37 EPS for the current fiscal year.

OPKO Health, Inc (NYSE:OPK) is a multi-national biopharmaceutical and diagnostics company.

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