Opko Health, Inc. (OPK) Research Coverage Started at Cantor Fitzgerald
Investment analysts at Cantor Fitzgerald started coverage on shares of Opko Health, Inc. (NASDAQ:OPK) in a research note issued on Thursday. The brokerage set a “buy” rating and a $20.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 240.14% from the stock’s current price.
The analysts wrote, “Expect Rayaldee sales to pick up the pace. Sales force expansion for Rayaldee is under way, and OPK has made substantial progress in obtaining formulary access for Rayaldee. With more-extensive insurance coverage, OPK is continuing to expand its field-based sales force to 70 representatives from the original 35. Also, on 6/22/17, OPK announced that the Kidney Disease Improving Global Outcomes (KDIGO) organization had updated its Clinical Practice Guidelines for the Diagnosis, Evaluation, Prevention and Treatment of Chronic Kidney Disease-Mineral and Bone Disorder (CKD-MBD).””
A number of other research analysts also recently issued reports on OPK. Jefferies Group LLC reiterated a “hold” rating and set a $6.50 price objective (down from $6.80) on shares of Opko Health in a research note on Thursday, August 10th. Zacks Investment Research downgraded Opko Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. BidaskClub downgraded Opko Health from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Barrington Research boosted their price objective on Opko Health to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, July 18th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $19.50 price objective on shares of Opko Health in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $15.28.
Opko Health (NASDAQ:OPK) traded down 2.97% during midday trading on Thursday, reaching $5.88. 5,098,429 shares of the company’s stock traded hands. Opko Health has a one year low of $5.85 and a one year high of $12.15. The stock’s 50 day moving average price is $6.31 and its 200-day moving average price is $7.22. The stock’s market cap is $3.29 billion.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $314.20 million during the quarter, compared to the consensus estimate of $322.64 million. Opko Health had a negative return on equity of 3.67% and a negative net margin of 6.52%. The firm’s revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 EPS. Equities analysts predict that Opko Health will post ($0.21) earnings per share for the current year.
In other news, Director Richard A. Lerner acquired 10,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were acquired at an average cost of $6.31 per share, with a total value of $63,100.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Phillip Md Et Al Frost acquired 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average cost of $6.04 per share, for a total transaction of $241,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,068,951 shares in the company, valued at $18,536,464.04. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,597,400 shares of company stock worth $10,133,327. 40.19% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. 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 in the last quarter. AQR Capital Management LLC bought a new position in Opko Health during the fourth quarter valued at $105,000. Blair William & Co. IL bought a new position in Opko Health during the second quarter valued at $112,000. Timber Hill LLC bought a new position in Opko Health during the first quarter valued at $114,000. Finally, Engineers Gate Manager LP bought a new position in Opko Health during the second quarter valued at $117,000. 22.94% of the stock is currently owned by hedge funds and other institutional investors.
About Opko Health
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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