Opko Health, Inc. (OPK) Sees Significant Increase in Short Interest
Opko Health, Inc. (NASDAQ:OPK) was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 76,186,977 shares, a growth of 4.6% from the July 31st total of 72,810,020 shares. Approximately 22.9% of the shares of the company are sold short. Based on an average daily trading volume, of 4,487,663 shares, the short-interest ratio is currently 17.0 days.
Several brokerages recently weighed in on OPK. BidaskClub raised Opko Health from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $19.50 target price on shares of Opko Health in a research note on Friday, June 16th. Zacks Investment Research cut Opko Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $6.50 target price (down previously from $6.80) on shares of Opko Health in a research note on Thursday, August 10th. Finally, Barrington Research raised their target price on Opko Health to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Opko Health currently has an average rating of “Buy” and an average target price of $15.28.
Opko Health (NASDAQ OPK) opened at 6.18 on Thursday. The company’s market cap is $3.46 billion. Opko Health has a 52 week low of $5.85 and a 52 week high of $12.15. The company’s 50-day moving average price is $6.24 and its 200 day moving average price is $7.11.
Opko Health (NASDAQ:OPK) last announced its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $314.20 million during the quarter, compared to analyst estimates of $322.64 million. Opko Health had a negative return on equity of 3.67% and a negative net margin of 6.52%. Opko Health’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. On average, analysts anticipate that Opko Health will post ($0.20) EPS for the current year.
In other Opko Health news, Director Richard A. Lerner purchased 10,000 shares of the stock in a transaction dated Monday, June 5th. The shares were bought at an average cost of $6.31 per share, with a total value of $63,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phillip Md Et Al Frost purchased 30,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were acquired at an average cost of $6.30 per share, for a total transaction of $189,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at approximately $19,334,391.30. The disclosure for this purchase can be found here. Insiders acquired 1,225,900 shares of company stock worth $7,779,416 over the last ninety days. 40.19% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in OPK. BlackRock Inc. raised its position in shares of Opko Health by 11,481.3% in the first quarter. BlackRock Inc. now owns 22,645,285 shares of the biotechnology company’s stock valued at $181,163,000 after buying an additional 22,449,752 shares in the last quarter. State Street Corp raised its position in Opko Health by 40.3% in the first quarter. State Street Corp now owns 10,926,560 shares of the biotechnology company’s stock valued at $87,412,000 after buying an additional 3,138,685 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its position in Opko Health by 62.4% in the first quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 5,061,154 shares of the biotechnology company’s stock valued at $40,489,000 after buying an additional 1,944,549 shares during the period. Vanguard Group Inc. raised its position in Opko Health by 4.4% in the first quarter. Vanguard Group Inc. now owns 26,322,001 shares of the biotechnology company’s stock valued at $210,576,000 after buying an additional 1,112,843 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Opko Health during the first quarter valued at $4,450,000. 22.46% of the stock is owned by institutional investors and hedge funds.
About Opko Health
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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