OPKO Health (NASDAQ:OPK) Shares Down 4.4% – What’s Next?

OPKO Health, Inc. (NASDAQ:OPK – Get Free Report)’s stock price fell 4.4% during trading on Wednesday. The company traded as low as $1.63 and last traded at $1.6350. 846,493 shares changed hands during trading, a decline of 74% from the average daily volume of 3,245,687 shares. The stock had previously closed at $1.71.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OPK. Barrington Research upgraded shares of OPKO Health from a “market perform” rating to an “outperform” rating and set a $2.25 target price for the company in a research note on Friday, October 16th. UBS Group set a $4.00 target price on OPKO Health in a research note on Friday, October 16th. Piper Sandler reaffirmed an “overweight” rating and set a $4.00 target price (up from $3.00) on shares of OPKO Health in a research report on Friday, October 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OPKO Health in a research report on Thursday, August 13th. Finally, HC Wainwright reiterated a “buy” rating on shares of OPKO Health in a research note on Friday, October 16th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.42.

Check Out Our Latest Research Report on OPKO Health

OPKO Health Price Performance

The stock has a 50 day moving average of $1.60 and a 200-day moving average of $1.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 4.65 and a current ratio of 4.97. The company has a market cap of $1.22 billion, a PE ratio of -8.66 and a beta of 1.52.

OPKO Health (NASDAQ:OPK – Get Free Report) last released its earnings results on Wednesday, November 4th. The biotechnology company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). OPKO Health had a negative return on equity of 10.90% and a negative net margin of 29.51%. The firm had revenue of $130.83 million during the quarter, compared to the consensus estimate of $136.62 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue was down 56.9% compared to the same quarter last year. Equities analysts predict that OPKO Health, Inc. will post -0.20 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OPK. BlackRock Inc. purchased a new stake in OPKO Health in the 2nd quarter worth $55,468,000. AWM Investment Company Inc. purchased a new stake in shares of OPKO Health in the second quarter valued at about $3,165,000. Bank of New York Mellon Corp acquired a new stake in shares of OPKO Health during the 2nd quarter worth approximately $1,995,000. Voya Investment Management LLC lifted its stake in shares of OPKO Health by 9.6% in the 3rd quarter. Voya Investment Management LLC now owns 1,198,779 shares of the biotechnology company’s stock valued at $1,930,000 after purchasing an additional 104,668 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of OPKO Health by 80.0% during the first quarter. Bank of America Corp DE now owns 1,141,849 shares of the biotechnology company’s stock valued at $1,302,000 after acquiring an additional 507,590 shares during the last quarter. Institutional investors and hedge funds own 64.63% of the company’s stock.

About OPKO Health

(Get Free Report)

OPKO Health is a healthcare company with businesses in diagnostics and pharmaceuticals. Its diagnostic offerings have included BioReference Health laboratory services and the 4Kscore test, which helps assess the risk of aggressive prostate cancer. OPKO’s pharmaceutical products include Rayaldee, a prescription treatment for certain adults with chronic kidney disease and vitamin D insufficiency. The company also co-developed NGENLA, a long-acting growth hormone treatment for children with growth hormone deficiency, with Pfizer.

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