Opko Health, Inc. (OPK) Downgraded to “Sell” at Zacks Investment Research
Opko Health, Inc. (NASDAQ:OPK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “OPKO Health is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies. “
Several other research analysts have also weighed in on OPK. Ladenburg Thalmann Financial Services restated a “buy” rating and set a $19.50 price objective on shares of Opko Health in a research note on Friday, June 16th. BidaskClub upgraded shares of Opko Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Barrington Research upped their price target on shares of Opko Health to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $8.00 price target on shares of Opko Health in a research note on Thursday, July 27th. Finally, Cantor Fitzgerald initiated coverage on shares of Opko Health in a research note on Thursday, August 17th. They issued an “overweight” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $13.97.
Shares of Opko Health (OPK) opened at 6.88 on Wednesday. The firm’s 50-day moving average is $6.49 and its 200-day moving average is $6.72. Opko Health has a 12-month low of $5.85 and a 12-month high of $12.15. The company’s market capitalization is $3.85 billion.
Opko Health (NASDAQ:OPK) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $314.20 million for the quarter, compared to analyst estimates of $322.64 million. Opko Health had a negative net margin of 6.52% and a negative return on equity of 3.67%. Opko Health’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. On average, equities research analysts anticipate that Opko Health will post ($0.20) EPS for the current fiscal year.
In related news, CEO Phillip Md Et Al Frost acquired 5,400 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was acquired at an average price of $6.46 per share, with a total value of $34,884.00. Following the purchase, the chief executive officer now directly owns 3,068,951 shares in the company, valued at $19,825,423.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 938,400 shares of company stock valued at $5,745,521. 40.19% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Financial Architects Inc increased its position in shares of 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 buying an additional 4,800 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Opko Health by 6.5% during the first quarter. Envestnet Asset Management Inc. now owns 16,356 shares of the biotechnology company’s stock worth $132,000 after buying an additional 1,001 shares during the period. Blair William & Co. IL acquired a new stake in shares of Opko Health during the second quarter worth $112,000. Engineers Gate Manager LP acquired a new stake in shares of Opko Health during the second quarter worth $117,000. Finally, IFC Holdings Incorporated FL increased its position in shares of Opko Health by 16.5% during the second quarter. IFC Holdings Incorporated FL now owns 17,864 shares of the biotechnology company’s stock worth $119,000 after buying an additional 2,525 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.
Receive News & Stock Ratings for Opko Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Opko Health Inc. and related stocks with our FREE daily email newsletter.