OPKO Health (NASDAQ:OPK) Receives “Buy” Rating from HC Wainwright

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $3.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 98.68% from the company’s previous close.

A number of other analysts also recently commented on OPK. StockNews.com raised OPKO Health from a “sell” rating to a “hold” rating in a research note on Tuesday. Barrington Research reiterated an “outperform” rating and issued a $2.25 price target on shares of OPKO Health in a research report on Friday, November 8th. Finally, Piper Sandler restated an “overweight” rating and set a $3.00 price objective on shares of OPKO Health in a research report on Tuesday, September 17th.

OPKO Health Price Performance

NASDAQ OPK opened at $1.51 on Wednesday. The firm has a market capitalization of $1.03 billion, a PE ratio of -7.95 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. OPKO Health has a 12 month low of $0.86 and a 12 month high of $1.76. The company’s 50 day simple moving average is $1.55 and its 200 day simple moving average is $1.50.

Insider Transactions at OPKO Health

In other news, CEO Phillip Md Et Al Frost bought 500,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $1.56 per share, with a total value of $780,000.00. Following the completion of the transaction, the chief executive officer now directly owns 212,411,477 shares in the company, valued at approximately $331,361,904.12. The trade was a 0.24 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 1,304,255 shares of company stock valued at $2,024,605 in the last three months. 47.26% of the stock is currently owned by corporate insiders.

Hedge Funds 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 holdings 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 valued at $72,573,000 after purchasing an additional 4,284,336 shares in the last quarter. Assenagon Asset Management S.A. raised its position in OPKO Health by 142.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company’s stock valued at $2,227,000 after buying an additional 876,272 shares during the period. Squarepoint Ops LLC purchased a new stake in OPKO Health in the 2nd quarter worth about $592,000. Y.D. More Investments Ltd acquired a new stake in OPKO Health during the 2nd quarter worth about $1,840,000. Finally, BNP Paribas Financial Markets grew its stake in OPKO Health by 736.7% during the 3rd 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. Institutional investors and hedge funds own 64.63% of the company’s stock.

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.