OPKO Health (NASDAQ:OPK) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of OPKO Health (NASDAQ:OPK) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks reports.

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

OPKO Health Stock Performance

NASDAQ OPK opened at $1.62 on Monday. The stock has a market cap of $1.21 billion, a PE ratio of -18.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.93 and a current ratio of 3.35. The firm has a 50-day moving average of $1.48 and a 200-day moving average of $1.35. OPKO Health has a 52-week low of $0.98 and a 52-week high of $1.75.

OPKO Health (NASDAQ:OPK) last announced its quarterly 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 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.19) EPS. On average, sell-side analysts anticipate that OPKO Health will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OPK. Squarepoint Ops LLC acquired a new stake in shares of OPKO Health in the 2nd quarter valued at $62,000. Headlands Technologies LLC increased its stake in shares of OPKO Health by 91.2% in 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 during the last quarter. Two Sigma Securities LLC acquired a new position in shares of OPKO Health during the 2nd quarter worth $27,000. Van ECK Associates Corp raised its holdings in shares of OPKO Health by 174.0% during the 2nd 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 in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of OPKO Health during the 2nd quarter worth $1,194,000. 64.63% of the stock is currently owned by institutional investors and hedge funds.

About OPKO Health

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.