Opko Health Sees Strong Trading Volume Following Better-Than-Expected Earnings (OPK)
Shares of Opko Health (NYSE:OPK) saw unusually-high trading volume on Tuesday following a better than expected earnings announcement, Analyst Ratings News reports. Approximately 3,388,674 shares were traded during mid-day trading, an increase of 40% from the previous session’s volume of 2,428,112 shares.The stock last traded at $9.01 and had previously closed at $9.36.
The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.09) by $0.03. The company had revenue of $23.50 million for the quarter, compared to the consensus estimate of $23.70 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis.
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. Analysts at TheStreet upgraded shares of Opko Health from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $12.13.
In other Opko Health news, CEO Phillip Md Et Al Frost bought 5,000 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was purchased at an average price of $8.75 per share, for a total transaction of $43,750.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
The stock’s 50-day moving average is $8.88 and its 200-day moving average is $8.78. The company’s market cap is $3.753 billion. Opko Health also was the recipient of some unusual options trading on Monday. Stock traders purchased 2,916 put options on the stock. This is an increase of 286% compared to the typical daily volume of 755 put options.
OPKO Health, Inc (NYSE:OPK) is a multi-national biopharmaceutical and diagnostics company.
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