OPKO Health (NASDAQ:OPK) Reaches New 12-Month High - Should You Buy?

Key Points

• OPKO Health reached a new 52-week high, trading as high as $1.75 before closing around $1.725, above its prior close of $1.69.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $1.55, below the stock’s recent trading level.
• The company beat quarterly EPS and revenue estimates, reporting a $0.01 loss per share versus the expected $0.08 loss and $163.6 million in revenue; institutional investors own 64.63% of the stock.

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $1.75 and last traded at $1.7250, with a volume of 501695 shares. The stock had previously closed at $1.69.

Analysts Set New Price Targets

A number of brokerages recently commented on OPK. HC Wainwright reaffirmed a "buy" rating on shares of OPKO Health in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of OPKO Health in a research note on Thursday, August 13th. 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 equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $1.55.

OPKO Health Price Performance

The stock has a market cap of $1.29 billion, a P/E ratio of -19.17 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. The business's 50-day simple moving average is $1.43 and its two-hundred day simple moving average is $1.33.

OPKO Health (NASDAQ:OPK - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $163.58 million for the quarter, compared to analyst estimates of $131.23 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The company's quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts expect that OPKO Health, Inc. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On OPKO Health

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of OPKO Health in the 2nd quarter worth $55,468,000. AWM Investment Company Inc. purchased a new stake in OPKO Health during the 2nd quarter valued at about $3,165,000. Bank of New York Mellon Corp purchased a new stake in OPKO Health during the 2nd quarter valued at $1,995,000. Bank of America Corp DE lifted its holdings in OPKO Health by 80.0% in the 1st quarter. Bank of America Corp DE now owns 1,141,849 shares of the biotechnology company's stock worth $1,302,000 after buying an additional 507,590 shares during the period. Finally, OP Asset Management Ltd bought a new position in OPKO Health in the 1st quarter worth $1,257,000. 64.63% of the stock is currently owned by institutional investors.

OPKO Health Company Profile

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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