Opko Health, Inc. (OPK) Rating Reiterated by Ladenburg Thalmann Financial Services
Opko Health, Inc. (NASDAQ:OPK)‘s stock had its “buy” rating restated by investment analysts at Ladenburg Thalmann Financial Services in a report issued on Friday. They presently have a $19.50 target price on the biotechnology company’s stock. Ladenburg Thalmann Financial Services’ price objective points to a potential upside of 195.90% from the company’s current price.
A number of other equities research analysts have also issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 price objective on shares of Opko Health in a report on Monday, June 12th. Zacks Investment Research downgraded Opko Health from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Guggenheim started coverage on Opko Health in a research report on Tuesday, March 14th. They set a “buy” rating and a $25.00 target price for the company. Finally, Standpoint Research reiterated a “buy” rating and set a $14.00 target price on shares of Opko Health in a research report on Sunday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $16.58.
Shares of Opko Health (NASDAQ:OPK) opened at 6.59 on Friday. The company’s market capitalization is $3.69 billion. The firm’s 50-day moving average is $6.73 and its 200 day moving average is $8.30. Opko Health has a 12 month low of $5.99 and a 12 month high of $12.15.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.02. Opko Health had a negative net margin of 3.60% and a negative return on equity of 2.13%. The company had revenue of $296.10 million for the quarter, compared to analysts’ expectations of $313.36 million. During the same period last year, the business earned ($0.02) earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Opko Health will post ($0.20) EPS for the current year.
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In other Opko Health news, Vice Chairman Jane Ph D. Hsiao bought 40,000 shares of Opko Health stock in a transaction on Wednesday, May 10th. The shares were acquired at an average price of $6.97 per share, for a total transaction of $278,800.00. Following the completion of the purchase, the insider now directly owns 24,723,133 shares in the company, valued at approximately $172,320,237.01. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Phillip Md Et Al Frost bought 200,000 shares of Opko Health stock in a transaction on Thursday, June 15th. The stock was acquired at an average price of $6.43 per share, for a total transaction of $1,286,000.00. Following the purchase, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at $19,733,354.93. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 2,681,200 shares of company stock valued at $18,331,123. 40.74% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in shares of Opko Health during the fourth quarter valued at approximately $648,000. Private Advisor Group LLC raised its position in shares of Opko Health by 27.5% in the first quarter. Private Advisor Group LLC now owns 49,521 shares of the biotechnology company’s stock valued at $377,000 after buying an additional 10,670 shares in the last quarter. Comerica Bank purchased a new position in shares of Opko Health during the fourth quarter valued at approximately $117,000. AQR Capital Management LLC purchased a new position in shares of Opko Health during the fourth quarter valued at approximately $105,000. Finally, RK Asset Management LLC raised its position in shares of Opko Health by 0.4% in the first quarter. RK Asset Management LLC now owns 887,719 shares of the biotechnology company’s stock valued at $7,102,000 after buying an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 23.65% 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.
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