Opko Health, Inc. (OPK) Coverage Initiated at Cantor Fitzgerald
Stock analysts at Cantor Fitzgerald began coverage on shares of Opko Health, Inc. (NASDAQ:OPK) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $20.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 240.14% from the company’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).””
OPK has been the subject of a number of other reports. BidaskClub downgraded Opko Health from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $19.50 price objective on shares of Opko Health in a report on Friday, June 16th. Jefferies Group LLC restated a “hold” rating and issued a $6.50 price objective (down from $6.80) on shares of Opko Health in a report on Thursday, August 10th. Zacks Investment Research upgraded Opko Health from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Barrington Research increased their price objective on Opko Health to $11.00 and gave the company an “outperform” rating in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Opko Health presently has a consensus rating of “Buy” and an average target price of $15.28.
Opko Health (OPK) opened at 5.88 on Thursday. The company’s market capitalization is $3.29 billion. The stock has a 50 day moving average price of $6.28 and a 200 day moving average price of $7.21. Opko Health has a 52-week low of $5.85 and a 52-week high of $12.15.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping the 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 net margin of 6.52% and a negative return on equity of 3.67%. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. Analysts anticipate that Opko Health will post ($0.21) EPS for the current fiscal year.
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In other Opko Health news, Director John A. Paganelli purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were acquired at an average price of $6.17 per share, with a total value of $30,850.00. Following the transaction, the director now owns 350,340 shares in the company, valued at $2,161,597.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard A. Lerner purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was acquired at an average cost of $6.31 per share, for a total transaction of $63,100.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,588,200 shares of company stock worth $10,072,607 in the last three months. Insiders own 40.19% of the company’s stock.
Several large investors have recently modified their holdings of OPK. Financial Architects Inc raised its stake in shares of 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 bought a new stake in shares of Opko Health during the fourth quarter valued at about $105,000. Blair William & Co. IL bought a new stake in shares of Opko Health during the second quarter valued at about $112,000. Timber Hill LLC bought a new stake in shares of Opko Health during the first quarter valued at about $114,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Opko Health during the second quarter valued at about $117,000. Institutional investors own 22.94% 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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