OPKO Health (NASDAQ:OPK) Upgraded at Barrington Research

Barrington Research upgraded shares of OPKO Health (NASDAQ:OPK) from a market perform rating to an outperform rating in a report published on Friday morning, MarketBeat Ratings reports. They currently have $2.25 price target on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating on shares of OPKO Health in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OPKO Health in a report on Thursday, August 13th. Finally, Zacks Research upgraded shares of OPKO Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2.96.

OPKO Health Stock Performance

Shares of OPKO Health stock opened at $1.53 on Friday. OPKO Health has a 1 year low of $0.98 and a 1 year high of $1.77. The company’s fifty day simple moving average is $1.52 and its 200-day simple moving average is $1.37. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -17.00 and a beta of 1.51. The company has a current ratio of 3.35, a quick ratio of 2.93 and a debt-to-equity ratio of 0.28.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings data on Monday, July 27th. The biotechnology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. OPKO Health had a negative net margin of 12.40% and a negative return on equity of 5.88%. The business had revenue of $163.58 million during the quarter, compared to analyst estimates of $131.23 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that OPKO Health will post -0.23 EPS for the current year.

Institutional Investors Weigh In On OPKO Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of OPKO Health during the 2nd quarter valued at $55,468,000. AWM Investment Company Inc. bought a new position in shares of OPKO Health in the 2nd quarter worth $3,165,000. Bank of New York Mellon Corp bought a new position in shares of OPKO Health in the 2nd quarter worth $1,995,000. OP Asset Management Ltd acquired a new stake in shares of OPKO Health during the first quarter worth $1,257,000. Finally, Bank of America Corp DE acquired a new stake in shares of OPKO Health during the second quarter worth $1,194,000. 64.63% of the stock is owned by institutional investors and hedge funds.

OPKO Health News Summary

Here are the key news stories impacting OPKO Health this week:

• Positive Sentiment: Labcorp deal provides substantial cash proceeds: Labcorp agreed to acquire select assets of OPKO’s BioReference Health business for $722 million in cash, with a potential earnout of up to $150 million, bringing the possible total value to $872 million. The assets include specialty testing focused on women’s health and the 4Kscore prostate-cancer risk test. Labcorp Enters into Agreement with OPKO Health to Acquire Select Assets of BioReference Health
• Positive Sentiment: Strategic shift toward biopharmaceuticals: The divestiture is expected to give OPKO greater financial flexibility and allow management to concentrate on its biopharmaceutical operations. The agreement may also expand patient and provider access to the 4Kscore Test through Labcorp’s nationwide laboratory network. OPKO Health to Sell Select BioReference Assets to Labcorp for $722M
• Positive Sentiment: Analyst upgrade adds momentum: Barrington Research raised OPKO from “Market Perform” to “Outperform” and assigned a $2.25 price target, implying substantial upside from the stock’s recent trading level. Barrington Upgrades OPKO Health to Outperform
• Neutral Sentiment: Shares reached a 52-week high of $1.75: The milestone reflects strong investor interest following the asset-sale announcement, although the stock remains below the new analyst target and could experience volatility after the sharp move.
• Negative Sentiment: Execution and business-mix risks remain: OPKO is selling part of its diagnostics platform, which could reduce ongoing BioReference revenue and earnings contribution. The additional $150 million earnout is contingent, and the transaction must close as planned before OPKO realizes the full expected benefit.

About OPKO Health

OPKO Health, Inc is a healthcare company focused on diagnostics and pharmaceuticals. Through its diagnostics businesses, the company provides laboratory services and specialized tests intended to support the detection, diagnosis and management of disease. Its operations include BioReference Health, a clinical laboratory business serving physicians, hospitals, employers and patients, as well as the 4Kscore test, which helps assess the risk of aggressive prostate cancer.

OPKO’s pharmaceutical business develops and commercializes treatments for conditions including kidney disease, endocrine disorders and growth-related conditions.