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 report issued on Wednesday,Benzinga reports. They currently have a $3.00 price target on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 69.97% from the stock’s previous close.

A number of other equities research analysts have also weighed in on OPK. Barrington Research reiterated an “outperform” rating and set a $2.25 target price on shares of OPKO Health in a research note on Wednesday. StockNews.com upgraded OPKO Health from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd.

OPKO Health Stock Performance

NASDAQ OPK traded down $0.04 during trading hours on Wednesday, hitting $1.77. The company’s stock had a trading volume of 920,059 shares, compared to its average volume of 4,668,457. OPKO Health has a 12 month low of $0.86 and a 12 month high of $2.04. The company’s 50 day simple moving average is $1.60 and its two-hundred day simple moving average is $1.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. The company has a market cap of $1.19 billion, a P/E ratio of -9.29 and a beta of 1.70.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. OPKO Health had a negative net margin of 18.65% and a negative return on equity of 9.76%. The firm had revenue of $183.60 million during the quarter, compared to analyst estimates of $155.42 million. As a group, sell-side analysts expect that OPKO Health will post -0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Phillip Md Et Al Frost purchased 67,434 shares of OPKO Health stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $1.71 per share, for a total transaction of $115,312.14. Following the completion of the transaction, the chief executive officer now directly owns 213,301,448 shares in the company, valued at $364,745,476.08. This represents a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have acquired 889,971 shares of company stock worth $1,344,442. Company insiders own 47.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OPK. Rubric Capital Management LP lifted its holdings in OPKO Health by 9.6% during 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. Millennium Management LLC lifted its stake in shares of OPKO Health by 85.3% during the 4th quarter. Millennium Management LLC now owns 4,588,526 shares of the biotechnology company’s stock valued at $6,745,000 after buying an additional 2,112,382 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of OPKO Health by 143.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,548,667 shares of the biotechnology company’s stock valued at $3,746,000 after buying an additional 1,502,342 shares in the last quarter. Altshuler Shaham Ltd bought a new position in OPKO Health in the 4th quarter worth $2,082,000. Finally, Norges Bank purchased a new stake in OPKO Health in the 4th quarter worth $1,657,000. 64.63% of the stock is currently owned by institutional investors.

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.