OPKO Health (NASDAQ:OPK) Share Price Breaks Below Fifty Day Moving Average - Time to Sell?

Key Points

• OPKO Health shares fell below their 50-day moving average, trading down 4.3% to $1.32 versus the $1.51 average, with 1.56 million shares changing hands.
• Analyst sentiment is mixed: ratings include one Strong Buy, one Buy, three Holds and one Sell, resulting in a consensus “Hold” rating and an average price target of $1.55.
• The company beat quarterly EPS and revenue expectations, reporting a $0.01 loss per share versus the projected $0.08 loss and $163.58 million in revenue; however, it remains unprofitable, with a negative net margin and projected full-year EPS of -$0.23.

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) shares passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $1.51 and traded as low as $1.32. OPKO Health shares last traded at $1.32, with a volume of 1,558,413 shares.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. HC Wainwright reiterated a "buy" rating on shares of OPKO Health in a report on Wednesday, July 29th. Zacks Research upgraded OPKO Health from a "hold" rating to a "strong-buy" rating in a report on Monday, September 28th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of OPKO Health in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, OPKO Health presently has a consensus rating of "Hold" and an average price target of $1.55.

OPKO Health Trading Down 4.3%

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 firm's 50 day simple moving average is $1.51 and its 200-day simple moving average is $1.37. The company has a market capitalization of $985.16 million, a PE ratio of -14.67 and a beta of 1.51.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new stake in shares of OPKO Health in the second quarter worth about $62,000. Headlands Technologies LLC grew its stake in shares of OPKO Health by 91.2% in the second quarter. Headlands Technologies LLC now owns 107,989 shares of the biotechnology company's stock valued at $162,000 after buying an additional 51,509 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of OPKO Health during the 2nd quarter valued at about $27,000. Van ECK Associates Corp raised its holdings in shares of OPKO Health by 174.0% during the 2nd quarter. Van ECK Associates Corp now owns 438,645 shares of the biotechnology company's stock valued at $658,000 after buying an additional 278,549 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of OPKO Health during the 2nd quarter valued at about $1,194,000. 64.63% of the stock is owned by hedge funds and other institutional investors.

OPKO Health Company Profile

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.

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