OPKO Health (NASDAQ:OPK) Shares Gap Up - What's Next?

Key Points

• OPKO Health shares surged, opening at $1.65 versus the prior close of $1.37 and last trading near $1.675, with roughly 30.1 million shares changing hands.
• Analyst views remain mixed: ratings range from Strong Buy to Sell, resulting in a consensus “Hold” rating and an average price target of $1.55.
• The company exceeded quarterly expectations, reporting a loss of $0.01 per share versus the forecasted $0.08 loss and revenue of $163.6 million, up 4.3% year over year; however, it remains unprofitable.

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report)'s stock price gapped up prior to trading on Thursday. The stock had previously closed at $1.37, but opened at $1.65. OPKO Health shares last traded at $1.6750, with a volume of 30,122,967 shares changing hands.

Analysts Set New Price Targets

OPK has been the subject of several recent analyst reports. HC Wainwright restated 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 reiterated a "sell (d-)" rating on shares of OPKO Health in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $1.55.

OPKO Health Price Performance

The company's fifty day moving average price is $1.51 and its two-hundred day moving average price is $1.37. 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 company has a market cap of $1.21 billion, a price-to-earnings ratio of -18.06 and a beta of 1.51.

OPKO Health (NASDAQ:OPK - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The biotechnology company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.07. The business had revenue of $163.58 million for 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 firm's quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted ($0.19) earnings per share. On average, equities research analysts forecast that OPKO Health, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Trading of OPKO Health

Institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC bought a new position in shares of OPKO Health in the 2nd quarter valued at about $27,000. Apella Capital LLC acquired a new stake in shares of OPKO Health in the first quarter valued at about $34,000. Diversify Advisory Services LLC bought a new stake in OPKO Health during the second quarter worth about $37,000. Abel Hall LLC bought a new stake in OPKO Health during the first quarter worth about $38,000. Finally, EP Wealth Advisors LLC bought a new stake in OPKO Health during the second quarter worth about $45,000. 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. 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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