OPKO Health (NASDAQ:OPK) Stock Falls 4.4% – Here’s Why

OPKO Health, Inc. (NASDAQ:OPK) shares were down 4.4% during mid-day trading on Wednesday. The stock traded as low as $1.63 and last traded at $1.6350. Approximately 846,493 shares changed hands during trading, a decline of 74% from the average session volume of 3,245,687 shares. The stock had previously closed at $1.71.

Analyst Ratings Changes

Several brokerages have weighed in on OPK. HC Wainwright restated a “buy” rating on shares of OPKO Health in a report on Friday, October 16th. Zacks Research cut OPKO Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 6th. Barrington Research upgraded 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. Weiss Ratings restated a “sell (d-)” rating on shares of OPKO Health in a research report on Thursday, August 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $4.00 price target (up from $3.00) on shares of OPKO Health in a research note on Friday, October 16th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, OPKO Health has a consensus rating of “Hold” and a consensus target price of $3.42.

OPKO Health Stock Down 3.8%

The firm’s 50 day moving average is $1.60 and its two-hundred day moving average is $1.36. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -8.66 and a beta of 1.52. The company has a current ratio of 4.97, a quick ratio of 4.65 and a debt-to-equity ratio of 0.41.

OPKO Health (NASDAQ:OPK) last released its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $130.83 million for the quarter, compared to analysts’ expectations of $136.62 million. OPKO Health had a negative net margin of 29.51% and a negative return on equity of 10.90%. The firm’s revenue for the quarter was down 56.9% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. On average, sell-side analysts predict that OPKO Health, Inc. will post -0.20 EPS for the current year.

Institutional Trading of OPKO Health

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC acquired a new stake in OPKO Health during the 2nd quarter worth approximately $27,000. Diversify Advisory Services LLC purchased a new position in shares of OPKO Health during the 2nd quarter valued at approximately $37,000. Partners Wealth Management LLC acquired a new position in OPKO Health during the 3rd quarter worth $43,000. EP Wealth Advisors LLC bought a new stake in OPKO Health in the second quarter valued at about $45,000. Finally, StoneX Group Inc. acquired a new stake in shares of OPKO Health during the 3rd quarter valued at approximately $47,000. 64.63% of the stock is currently owned by institutional investors and hedge funds.

About OPKO Health

OPKO Health is a healthcare company with businesses in diagnostics and pharmaceuticals. Its diagnostic offerings have included BioReference Health laboratory services and the 4Kscore test, which helps assess the risk of aggressive prostate cancer. OPKO’s pharmaceutical products include Rayaldee, a prescription treatment for certain adults with chronic kidney disease and vitamin D insufficiency. The company also co-developed NGENLA, a long-acting growth hormone treatment for children with growth hormone deficiency, with Pfizer.