OPKO Health, Inc. (NASDAQ:OPK) Stock Has Average Price Target of $2.96

OPKO Health, Inc. (NASDAQ:OPK) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $2.96.

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of OPKO Health from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 28th. Piper Sandler reissued an “overweight” rating and set a $4.00 price objective (up from $3.00) on shares of OPKO Health in a research note on Friday, October 16th. UBS Group set a $4.00 price objective on shares of OPKO Health in a research note on Friday, October 16th. Weiss Ratings restated a “sell (d-)” rating on shares of OPKO Health in a report on Thursday, August 13th. Finally, Barrington Research raised shares of OPKO Health from a “market perform” rating to an “outperform” rating and set a $2.25 target price for the company in a research note on Friday, October 16th.

OPKO Health Price Performance

Shares of OPKO Health stock opened at $1.61 on Wednesday. The business has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $1.34. OPKO Health has a 12 month low of $0.98 and a 12 month high of $1.77.

OPKO Health (NASDAQ:OPK) last announced its earnings results 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 business had revenue of $163.58 million for the quarter, compared to the consensus estimate of $131.23 million. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. On average, sell-side analysts anticipate that OPKO Health will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On OPKO Health

Several institutional investors and hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in OPKO Health during the 3rd quarter valued at about $161,000. Squarepoint Ops LLC bought a new stake in OPKO Health during the 2nd quarter valued at about $62,000. Headlands Technologies LLC increased its stake in OPKO Health by 91.2% during the 2nd quarter. Headlands Technologies LLC now owns 107,989 shares of the biotechnology company’s stock valued at $162,000 after purchasing an additional 51,509 shares in the last quarter. Two Sigma Securities LLC bought a new stake in OPKO Health during the 2nd quarter valued at about $27,000. Finally, Van ECK Associates Corp raised its holdings in OPKO Health by 174.0% in the second quarter. Van ECK Associates Corp now owns 438,645 shares of the biotechnology company’s stock worth $658,000 after buying an additional 278,549 shares during the last quarter. 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 BioReference Laboratories business, the company provides clinical laboratory services, including routine testing, specialty diagnostics, genetic testing and oncology-related laboratory services. OPKO also develops diagnostic products, including the 4Kscore test, a blood test designed to help assess the risk of aggressive prostate cancer.

In pharmaceuticals, OPKO develops treatments for kidney disease, endocrine disorders and other conditions.