OPKO Health (NASDAQ:OPK) Sets New 1-Year High - Still a Buy?

Key Points

• OPKO Health shares reached a new 52-week high, trading around $1.80 versus a prior close of $1.72. The stock’s 50-day and 200-day moving averages were $1.57 and $1.35, respectively.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $3.42. Piper Sandler raised its target to $4.00, while Zacks upgraded the stock to “Strong Buy,” though Weiss Ratings maintained a sell rating.
• Institutional ownership stands at 64.63%, with several investors recently increasing or initiating positions. OPKO operates in diagnostics and pharmaceuticals, including BioReference Laboratories and the 4Kscore prostate-cancer risk test.

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) shares hit a new 52-week high on Tuesday. The stock traded as high as $1.78 and last traded at $1.7950, with a volume of 273,701 shares. The stock had previously closed at $1.72.

Analysts Set New Price Targets

OPK has been the subject of several recent research reports. Piper Sandler reissued an "overweight" rating and issued a $4.00 price target (up from $3.00) on shares of OPKO Health in a research report on Friday, October 16th. Zacks Research upgraded OPKO Health from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of OPKO Health in a report on Thursday, August 13th. HC Wainwright reissued a "buy" rating on shares of OPKO Health in a research note on Friday, October 16th. Finally, UBS Group set a $4.00 price objective on shares of OPKO Health in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $3.42.

OPKO Health Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.93 and a current ratio of 3.35. The stock's 50-day simple moving average is $1.57 and its 200 day simple moving average is $1.35. The company has a market cap of $1.32 billion, a PE ratio of -19.72 and a beta of 1.51.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State of Wyoming grew its stake in OPKO Health by 154.6% during the 3rd quarter. State of Wyoming now owns 296,574 shares of the biotechnology company's stock worth $477,000 after buying an additional 180,085 shares during the last quarter. Partners Wealth Management LLC bought a new stake in shares of OPKO Health during the third quarter valued at approximately $43,000. Flagship Harbor Advisors LLC bought a new position in shares of OPKO Health in the third quarter worth $161,000. Squarepoint Ops LLC acquired a new position in OPKO Health during the 2nd quarter valued at about $62,000. Finally, Headlands Technologies LLC raised its holdings in OPKO Health by 91.2% during the second quarter. Headlands Technologies LLC now owns 107,989 shares of the biotechnology company's stock worth $162,000 after purchasing an additional 51,509 shares in the last quarter. 64.63% of the stock is currently owned by hedge funds and other institutional investors.

About OPKO Health

OPKO Health, Inc is a healthcare company focused on diagnostics and pharmaceuticals. Through its BioReference Laboratories business, the company provides clinical laboratory services, including routine testing, specialty diagnostics, genetic testing and oncology-related laboratory services. OPKO also develops diagnostic products, including the 4Kscore test, a blood test designed to help assess the risk of aggressive prostate cancer.

In pharmaceuticals, OPKO develops treatments for kidney disease, endocrine disorders and other conditions.

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