OPKO Health (NASDAQ:OPK) Shares Gap Down to $1.23

OPKO Health, Inc. (NASDAQ:OPK) gapped down prior to trading on Friday . The stock had previously closed at $1.23, but opened at $1.20. OPKO Health shares last traded at $1.24, with a volume of 321,622 shares.

Analyst Upgrades and Downgrades

OPK has been the topic of a number of recent analyst reports. StockNews.com lowered OPKO Health from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Piper Sandler reissued an “overweight” rating and issued a $5.00 target price on shares of OPKO Health in a research report on Monday, April 1st. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of OPKO Health in a research note on Wednesday, April 3rd. Finally, Barrington Research reiterated an “outperform” rating and set a $1.50 price target on shares of OPKO Health in a research note on Monday, April 1st.

OPKO Health Price Performance

The company has a market capitalization of $857.30 million, a PE ratio of -4.92 and a beta of 1.82. The company has a quick ratio of 1.22, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $1.08 and its 200-day moving average is $1.23.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). OPKO Health had a negative net margin of 21.76% and a negative return on equity of 12.69%. The business had revenue of $181.90 million during the quarter, compared to analyst estimates of $177.53 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. Equities analysts predict that OPKO Health, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In other OPKO Health news, CEO Phillip Md Et Al Frost purchased 1,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average price of $0.98 per share, with a total value of $1,470,000.00. Following the completion of the purchase, the chief executive officer now directly owns 207,368,225 shares of the company’s stock, valued at approximately $203,220,860.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard M. Krasno acquired 30,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was acquired at an average price of $0.99 per share, for a total transaction of $29,700.00. Following the completion of the acquisition, the director now owns 103,333 shares in the company, valued at $102,299.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phillip Md Et Al Frost acquired 1,500,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was purchased at an average price of $0.98 per share, with a total value of $1,470,000.00. Following the acquisition, the chief executive officer now owns 207,368,225 shares of the company’s stock, valued at approximately $203,220,860.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 4,630,000 shares of company stock valued at $4,422,700. 47.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OPKO Health

Several institutional investors and hedge funds have recently modified their holdings of OPK. IPG Investment Advisors LLC bought a new stake in OPKO Health in the 4th quarter worth about $30,000. Verition Fund Management LLC bought a new stake in OPKO Health in the 2nd quarter worth about $36,000. River Wealth Advisors LLC bought a new stake in OPKO Health in the 3rd quarter worth about $38,000. Guggenheim Capital LLC bought a new stake in OPKO Health in the 1st quarter worth about $38,000. Finally, Point72 Hong Kong Ltd bought a new stake in OPKO Health in the 1st quarter worth about $39,000. 64.63% of the stock is currently owned by institutional investors.

About OPKO Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.