OPKO Health (NASDAQ:OPK) Trading Up 8.2% – Here’s What Happened

OPKO Health, Inc. (NASDAQ:OPK)’s share price traded up 8.2% on Wednesday . The stock traded as high as $1.62 and last traded at $1.6450. Approximately 467,588 shares were traded during trading, a decline of 84% from the average daily volume of 2,970,710 shares. The stock had previously closed at $1.52.

Wall Street Analysts Forecast Growth

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

OPKO Health Price Performance

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 company has a fifty day moving average price of $1.39 and a two-hundred day moving average price of $1.29. The company has a market cap of $1.20 billion, a P/E ratio of -17.89 and a beta of 1.50.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. OPKO Health had a negative return on equity of 5.88% and a negative net margin of 12.40%.The firm had revenue of $163.58 million during the quarter, compared to the consensus estimate of $131.23 million. During the same period last year, the company earned ($0.19) earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that OPKO Health, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OPKO Health

A number of institutional investors and hedge funds have recently modified their holdings of OPK. California State Teachers Retirement System grew its holdings in OPKO Health by 248.3% during the second quarter. California State Teachers Retirement System now owns 1,442,226 shares of the biotechnology company’s stock worth $2,163,000 after purchasing an additional 1,028,189 shares during the period. Headlands Technologies LLC raised its stake in OPKO Health by 91.2% in the second quarter. Headlands Technologies LLC now owns 107,989 shares of the biotechnology company’s stock valued at $162,000 after buying an additional 51,509 shares during the period. Two Sigma Securities LLC bought a new stake in OPKO Health in the second quarter valued at approximately $27,000. Van ECK Associates Corp lifted its position in shares of OPKO Health by 174.0% in the second quarter. Van ECK Associates Corp now owns 438,645 shares of the biotechnology company’s stock valued at $658,000 after buying an additional 278,549 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of OPKO Health during the 2nd quarter worth approximately $1,194,000. 64.63% of the stock is owned by institutional investors.

OPKO Health Company Profile

OPKO Health, Inc (NASDAQ:OPK) is a diversified, global healthcare company headquartered in Miami, Florida, with a focus on diagnostics, pharmaceuticals and biologics development. The company operates two main business segments—Laboratory Services and Pharma Services & Products—driven by its mission to advance patient care through innovation in testing and targeted therapies.

In its Laboratory Services segment, OPKO leverages BioReference Laboratories, one of the largest full-service commercial labs in the United States.