OPKO Health (NASDAQ:OPK) Reaches New 12-Month High – Time to Buy?

OPKO Health, Inc. (NASDAQ:OPK)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $1.75 and last traded at $1.7250, with a volume of 501695 shares changing hands. The stock had previously closed at $1.69.

Wall Street Analysts Forecast Growth

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

OPKO Health Price Performance

The company has a market cap of $1.29 billion, a P/E ratio of -19.17 and a beta of 1.50. The company has a current ratio of 3.35, a quick ratio of 2.93 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $1.43 and a 200-day moving average of $1.33.

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 analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $163.58 million during the quarter, compared to analyst estimates of $131.23 million. OPKO Health had a negative net margin of 12.40% and a negative return on equity of 5.88%. OPKO Health’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.19) earnings per share. On average, equities research analysts predict that OPKO Health, Inc. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On OPKO Health

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in OPKO Health in the second quarter worth about $55,468,000. AWM Investment Company Inc. bought a new position in OPKO Health in the 2nd quarter valued at $3,165,000. Bank of New York Mellon Corp bought a new stake in OPKO Health during the 2nd quarter valued at about $1,995,000. OP Asset Management Ltd bought a new position in OPKO Health in the first quarter worth approximately $1,257,000. Finally, Bank of America Corp DE purchased a new position in shares of OPKO Health during the second quarter valued at $1,194,000. 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.