OPKO Health (NASDAQ:OPK) Hits New 12-Month High Following Analyst Upgrade

OPKO Health, Inc. (NASDAQ:OPK) shares hit a new 52-week high during trading on Friday after Barrington Research upgraded the stock from a market perform rating to an outperform rating. Barrington Research now has a $2.25 price target on the stock. OPKO Health traded as high as $1.77 and last traded at $1.6850, with a volume of 3,138,029 shares changing hands. The stock had previously closed at $1.61.

Other research analysts have also issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of OPKO Health in a research report on Thursday, August 13th. Zacks Research upgraded OPKO Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 28th. Finally, HC Wainwright restated a “buy” rating on shares of OPKO Health in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, OPKO Health presently has a consensus rating of “Moderate Buy” and an average target price of $1.93.

Key Headlines Impacting OPKO Health

Here are the key news stories impacting OPKO Health this week:

• Positive Sentiment: Labcorp agreed to acquire select assets of OPKO’s wholly owned BioReference Health subsidiary for $722 million in cash, with potential earnout payments bringing the total value to as much as $872 million. The assets include specialty testing in women’s health and a prostate-cancer risk assessment test. The proceeds could strengthen OPKO’s balance sheet and provide capital for its biopharma pipeline. Labcorp agrees to buy BioReference assets for $722 million plus earnout
• Positive Sentiment: The asset sale marks a strategic shift for OPKO Health toward its biopharmaceutical business, potentially simplifying the company and allowing management to concentrate resources on higher-growth therapies. News of the deal drove strong buying interest in OPK shares. Labcorp Agrees to Acquire BioReference Assets
• Positive Sentiment: Barrington Research upgraded OPK from “Market Perform” to “Outperform” and set a $2.25 price target, implying approximately 40% upside from the referenced $1.61 level. The upgrade likely reinforces sentiment that the transaction improves OPKO’s valuation and financial flexibility. Barrington upgrades OPKO Health to Outperform

Institutional Trading of OPKO Health

Large investors have recently made changes to their positions in the company. Two Sigma Securities LLC bought a new stake in OPKO Health in the 2nd quarter valued at about $27,000. Apella Capital LLC acquired a new position in OPKO Health during the 1st quarter worth approximately $34,000. EP Wealth Advisors LLC acquired a new position in OPKO Health during the 2nd quarter worth approximately $45,000. Diversify Advisory Services LLC acquired a new position in OPKO Health during the 2nd quarter worth approximately $37,000. Finally, Abel Hall LLC bought a new position in OPKO Health in the first quarter worth approximately $38,000. 64.63% of the stock is currently owned by institutional investors and hedge funds.

OPKO Health Trading Up 0.9%

The firm has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $1.37. The firm has a market cap of $1.21 billion, a P/E ratio of -18.28 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.35 and a quick ratio of 2.93.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings data on Monday, July 27th. The biotechnology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $163.58 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, equities research analysts expect that OPKO Health, Inc. will post -0.23 earnings per share for the current year.

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.