Opko Health, Inc. (NASDAQ:OPK) Upgraded to “Buy” by Zacks Investment Research
Opko Health, Inc. (NASDAQ:OPK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $7.25 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.02% from the company’s previous close.
According to Zacks, “OPKO Health is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies. “
Other equities research analysts have also issued reports about the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Opko Health in a research note on Monday, June 12th. Barrington Research raised their price objective on Opko Health to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, July 18th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $19.50 price objective on shares of Opko Health in a research note on Tuesday, June 6th. Finally, BidaskClub raised Opko Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $14.72.
Opko Health (NASDAQ:OPK) opened at 6.59 on Friday. Opko Health has a 52 week low of $5.99 and a 52 week high of $12.15. The stock’s market capitalization is $3.69 billion. The firm has a 50-day moving average price of $6.48 and a 200-day moving average price of $7.57.
Opko Health (NASDAQ:OPK) last posted its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.02. The company had revenue of $296.10 million during the quarter, compared to the consensus estimate of $313.36 million. Opko Health had a negative net margin of 3.60% and a negative return on equity of 2.13%. Opko Health’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. Equities research analysts predict that Opko Health will post ($0.20) EPS for the current fiscal year.
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In other news, CEO Phillip Md Et Al Frost acquired 4,700 shares of Opko Health stock in a transaction on Monday, May 1st. The shares were bought at an average cost of $7.68 per share, for a total transaction of $36,096.00. Following the acquisition, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at approximately $23,569,543.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Jane Ph D. Hsiao acquired 40,000 shares of Opko Health stock in a transaction on Wednesday, May 10th. The shares were purchased at an average price of $6.97 per share, for a total transaction of $278,800.00. Following the completion of the acquisition, the insider now directly owns 24,723,133 shares in the company, valued at $172,320,237.01. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 2,693,700 shares of company stock worth $18,080,916. Company insiders own 40.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Architects Inc increased its position in Opko Health by 45.0% in the second quarter. Financial Architects Inc now owns 15,460 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 4,800 shares during the last quarter. AQR Capital Management LLC purchased a new position in Opko Health during the fourth quarter valued at approximately $105,000. Timber Hill LLC purchased a new position in Opko Health during the first quarter valued at approximately $114,000. Comerica Bank purchased a new position in Opko Health during the fourth quarter valued at approximately $117,000. Finally, World Asset Management Inc increased its position in Opko Health by 23.6% in the first quarter. World Asset Management Inc now owns 15,176 shares of the biotechnology company’s stock valued at $121,000 after buying an additional 2,900 shares during the last quarter. Institutional investors own 23.65% of the company’s stock.
Opko Health Company Profile
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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