OPKO Health (NASDAQ:OPK) Stock Crosses Above 50 Day Moving Average – Here’s Why

OPKO Health, Inc. (NASDAQ:OPK)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.42 and traded as high as $1.68. OPKO Health shares last traded at $1.67, with a volume of 5,342,993 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OPK shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OPKO Health in a report on Thursday, August 13th. Wall Street Zen raised shares of OPKO Health from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, HC Wainwright restated a “buy” rating on shares of OPKO Health in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1.55.

OPKO Health Stock Up 3.1%

The firm has a 50-day simple moving average of $1.42 and a 200 day simple moving average of $1.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.35 and a quick ratio of 2.93. The company has a market capitalization of $1.25 billion, a PE ratio of -18.56 and a beta of 1.50.

OPKO Health (NASDAQ:OPK) last issued its earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share 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 the consensus estimate of $131.23 million. OPKO Health had a negative return on equity of 5.88% and a negative net margin of 12.40%.The company’s 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. On average, research analysts predict that OPKO Health, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Trading of OPKO Health

A number of hedge funds have recently made changes to their positions in OPK. BlackRock Inc. purchased a new position in shares of OPKO Health in the second quarter valued at $55,468,000. AWM Investment Company Inc. acquired a new position in OPKO Health in the 2nd quarter worth $3,165,000. Bank of New York Mellon Corp purchased a new position in OPKO Health in the 2nd quarter valued at about $1,995,000. Bank of America Corp DE grew its stake in shares of OPKO Health by 80.0% during the first quarter. Bank of America Corp DE now owns 1,141,849 shares of the biotechnology company’s stock valued at $1,302,000 after acquiring an additional 507,590 shares in the last quarter. Finally, OP Asset Management Ltd purchased a new stake in shares of OPKO Health during the first quarter worth about $1,257,000. Hedge funds and other institutional investors own 64.63% of the company’s stock.

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.