OPKO Health (NASDAQ:OPK) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of OPKO Health (NASDAQ:OPK) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $3.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on OPK. Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 price target on shares of OPKO Health in a research report on Tuesday, September 17th. StockNews.com raised shares of OPKO Health from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Barrington Research reissued an “outperform” rating and set a $2.25 target price on shares of OPKO Health in a research report on Friday, November 8th.

OPKO Health Price Performance

Shares of OPK stock opened at $1.48 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. The company has a market capitalization of $1.01 billion, a P/E ratio of -7.79 and a beta of 1.63. The company’s 50-day simple moving average is $1.54 and its two-hundred day simple moving average is $1.50. OPKO Health has a one year low of $0.86 and a one year high of $1.76.

Insiders Place Their Bets

In other OPKO Health news, CEO Phillip Md Et Al Frost bought 125,000 shares of OPKO Health stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $1.59 per share, with a total value of $198,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 212,536,477 shares in the company, valued at approximately $337,932,998.43. This trade represents a 0.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders purchased 1,304,255 shares of company stock valued at $2,024,605. Insiders own 47.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Rubric Capital Management LP increased its holdings in OPKO Health by 9.6% in the third quarter. Rubric Capital Management LP now owns 48,706,640 shares of the biotechnology company’s stock valued at $72,573,000 after buying an additional 4,284,336 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of OPKO Health by 142.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company’s stock worth $2,227,000 after purchasing an additional 876,272 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of OPKO Health during the second quarter worth about $592,000. Y.D. More Investments Ltd purchased a new stake in shares of OPKO Health during the second quarter worth about $1,840,000. Finally, BNP Paribas Financial Markets increased its stake in shares of OPKO Health by 736.7% during the third quarter. BNP Paribas Financial Markets now owns 246,967 shares of the biotechnology company’s stock worth $368,000 after purchasing an additional 217,450 shares in the last quarter. Hedge funds and other institutional investors own 64.63% of the company’s stock.

About OPKO Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.