Opko Health Inc. (OPK) Receives Average Recommendation of “Buy” from Brokerages
Opko Health Inc. (NASDAQ:OPK) has been given an average recommendation of “Buy” by the twelve research firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $14.81.
A number of research firms recently weighed in on OPK. Cantor Fitzgerald began coverage on shares of Opko Health in a research note on Thursday, August 17th. They set an “overweight” rating and a $20.00 target price on the stock. Zacks Investment Research raised shares of Opko Health from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a report on Friday, July 21st. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $19.50 price target on shares of Opko Health in a research note on Friday, June 16th. BidaskClub upgraded Opko Health from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $8.00 price target on shares of Opko Health in a report on Monday, June 12th.
Opko Health (OPK) traded down 1.56% during trading on Wednesday, reaching $6.93. The company had a trading volume of 1,445,599 shares. The firm’s 50-day moving average price is $6.36 and its 200 day moving average price is $6.76. The firm’s market capitalization is $3.88 billion. Opko Health has a one year low of $5.85 and a one year high of $12.15.
Opko Health (NASDAQ:OPK) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $314.20 million during the quarter, compared to analyst estimates of $322.64 million. Opko Health had a negative net margin of 3.79% and a negative return on equity of 3.34%. The company’s revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. Equities analysts forecast that Opko Health will post ($0.19) earnings per share for the current fiscal year.
In other news, CEO Phillip Md Et Al Frost bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were bought at an average cost of $6.19 per share, for a total transaction of $309,500.00. Following the completion of the transaction, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at $18,996,806.69. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders acquired 1,017,000 shares of company stock worth $6,234,303. 40.19% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Architects Inc increased its stake in Opko Health by 45.0% during the second quarter. Financial Architects Inc now owns 15,460 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 4,800 shares during the last quarter. Blair William & Co. IL purchased a new stake in Opko Health during the second quarter valued at approximately $112,000. Engineers Gate Manager LP purchased a new stake in Opko Health during the second quarter valued at approximately $117,000. IFC Holdings Incorporated FL raised its position in Opko Health by 16.5% during the second quarter. IFC Holdings Incorporated FL now owns 17,864 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 2,525 shares during the period. Finally, World Asset Management Inc raised its position in Opko Health by 23.6% during the first quarter. World Asset Management Inc now owns 15,176 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 2,900 shares during the period. Institutional investors own 22.46% of the company’s stock.
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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