OPKO Health (NASDAQ:OPK) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded OPKO Health from “hold” to “strong buy,” though the broader analyst consensus remains “hold” with an average price target of $1.55.
• OPKO reported quarterly revenue of $163.58 million and an adjusted loss of $0.01 per share, beating analyst estimates; revenue increased 4.3% year over year.
• Shares opened at $1.62, while institutional investors own approximately 64.63% of the company, including a new $55.5 million position from BlackRock.

OPKO Health (NASDAQ:OPK - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday, Zacks reports.

OPK has been the subject of several other reports. Weiss Ratings reissued a "sell (d-)" rating on shares of OPKO Health in a report on Thursday, August 13th. HC Wainwright reaffirmed a "buy" rating on shares of OPKO Health in a research note on Wednesday, July 29th. Finally, Wall Street Zen raised shares of OPKO Health from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $1.55.

OPKO Health Trading Down 0.6%

Shares of OPK opened at $1.62 on Monday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -18.00 and a beta of 1.50. The company has a quick ratio of 2.93, a current ratio of 3.35 and a debt-to-equity ratio of 0.28. OPKO Health has a 12-month low of $0.98 and a 12-month high of $1.75. The stock's 50-day moving average price is $1.48 and its 200 day moving average price is $1.35.

OPKO Health (NASDAQ:OPK - Get Free Report) last issued its earnings results on Monday, July 27th. The biotechnology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07. OPKO Health had a negative return on equity of 5.88% and a negative net margin of 12.40%.The firm had revenue of $163.58 million during the quarter, compared to analysts' expectations of $131.23 million. During the same period last year, the business earned ($0.19) earnings per share. OPKO Health's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that OPKO Health will post -0.23 earnings per share for the current year.

Institutional Investors Weigh In On OPKO Health

A number of hedge funds have recently added to or reduced their stakes in OPK. BlackRock Inc. acquired a new position in shares of OPKO Health during the second quarter worth approximately $55,468,000. AWM Investment Company Inc. acquired a new stake in shares of OPKO Health in the second quarter valued at approximately $3,165,000. Bank of New York Mellon Corp acquired a new stake in shares of OPKO Health in the second quarter valued at approximately $1,995,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in OPKO Health in the 2nd quarter worth approximately $618,000. Finally, Legal & General Group Plc acquired a new position in OPKO Health during the 2nd quarter worth $520,000. Institutional investors own 64.63% of the company's stock.

About OPKO Health

OPKO Health, Inc is a healthcare company focused on diagnostics and pharmaceuticals. Its diagnostics business includes BioReference Laboratories, which provides clinical laboratory testing and specialty diagnostic services in the United States, and the 4Kscore test, a blood-based test designed to help assess the risk of aggressive prostate cancer.

OPKO's pharmaceutical activities include products and development programs in areas such as endocrinology, nephrology, and other specialty-care markets.

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