OPKO Health’s (OPK) Buy Rating Reiterated at HC Wainwright

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $3.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 72.41% from the company’s previous close.

OPK has been the subject of several other reports. StockNews.com lowered OPKO Health from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Barrington Research reissued an “outperform” rating and set a $2.25 target price on shares of OPKO Health in a research report on Friday.

OPKO Health Stock Up 6.7 %

Shares of NASDAQ:OPK opened at $1.74 on Monday. The company has a current ratio of 2.97, a quick ratio of 2.69 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -9.16 and a beta of 1.63. The stock’s 50-day moving average price is $1.55 and its two-hundred day moving average price is $1.55. OPKO Health has a 12-month low of $0.86 and a 12-month high of $1.84.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $183.60 million for the quarter, compared to analyst estimates of $155.42 million. OPKO Health had a negative net margin of 18.65% and a negative return on equity of 9.76%. On average, research analysts forecast that OPKO Health will post -0.25 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Phillip Md Et Al Frost acquired 125,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $1.59 per share, for a total transaction of $198,750.00. Following the completion of the purchase, the chief executive officer now directly owns 212,536,477 shares of the company’s stock, valued at approximately $337,932,998.43. This trade represents a 0.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 1,389,971 shares of company stock worth $2,124,442 over the last quarter. 47.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OPKO Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP lifted its stake in shares of OPKO Health by 9.6% in the third quarter. Rubric Capital Management LP now owns 48,706,640 shares of the biotechnology company’s stock worth $72,573,000 after acquiring an additional 4,284,336 shares in the last quarter. Barclays PLC raised its position in shares of OPKO Health by 154.5% in the 3rd quarter. Barclays PLC now owns 543,336 shares of the biotechnology company’s stock valued at $810,000 after purchasing an additional 329,870 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in OPKO Health by 736.7% in the third quarter. BNP Paribas Financial Markets now owns 246,967 shares of the biotechnology company’s stock valued at $368,000 after acquiring an additional 217,450 shares in the last quarter. Intech Investment Management LLC acquired a new position in OPKO Health during the 3rd quarter worth $190,000. Finally, FMR LLC raised its stake in shares of OPKO Health by 103.6% in the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 11,089 shares in the last quarter. Hedge funds and other institutional investors own 64.63% of the company’s stock.

OPKO Health Company Profile

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.