HC Wainwright Reiterates Buy Rating for OPKO Health (NASDAQ:OPK)

OPKO Health (NASDAQ:OPK)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a 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 indicate a potential upside of 137.15% 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 report on Friday, March 1st. Barrington Research restated an “outperform” rating and issued a $1.50 target price on shares of OPKO Health in a report on Monday, April 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $5.00 price target on shares of OPKO Health in a research report on Monday, April 1st.

OPKO Health Stock Up 0.4 %

NASDAQ OPK traded up $0.01 during trading on Wednesday, reaching $1.27. 668,330 shares of the company’s stock were exchanged, compared to its average volume of 12,091,239. OPKO Health has a fifty-two week low of $0.85 and a fifty-two week high of $2.24. The firm has a market capitalization of $881.69 million, a PE ratio of -5.04 and a beta of 1.81. The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $1.15 and its 200-day simple moving average is $1.22.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $173.70 million for the quarter, compared to analyst estimates of $182.99 million. OPKO Health had a negative return on equity of 12.69% and a negative net margin of 21.76%. The company’s revenue was down 26.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Sell-side analysts predict that OPKO Health will post -0.33 EPS for the current year.

Insiders Place Their Bets

In other OPKO Health news, CEO Phillip Md Et Al Frost acquired 500,000 shares of OPKO Health stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $0.99 per share, with a total value of $495,000.00. Following the completion of the purchase, the chief executive officer now owns 208,868,225 shares in the company, valued at $206,779,542.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have acquired 3,100,000 shares of company stock valued at $2,923,000. 47.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OPKO Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank increased its holdings in shares of OPKO Health by 1.0% in the third quarter. Swiss National Bank now owns 934,055 shares of the biotechnology company’s stock worth $1,494,000 after acquiring an additional 8,800 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of OPKO Health by 6.8% during the third quarter. Van ECK Associates Corp now owns 150,771 shares of the biotechnology company’s stock worth $241,000 after buying an additional 9,591 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in shares of OPKO Health by 30.0% during the third quarter. Levin Capital Strategies L.P. now owns 65,000 shares of the biotechnology company’s stock worth $104,000 after buying an additional 15,000 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of OPKO Health by 39.1% during the third quarter. Principal Financial Group Inc. now owns 59,566 shares of the biotechnology company’s stock worth $95,000 after buying an additional 16,733 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of OPKO Health by 140.3% during the third quarter. EP Wealth Advisors LLC now owns 30,900 shares of the biotechnology company’s stock worth $49,000 after buying an additional 18,041 shares in the last quarter. Institutional investors 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.