OPKO Health (NASDAQ:OPK) Stock Price Up 4.1% - Here's Why

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report)'s share price was up 4.1% during mid-day trading on Wednesday . The stock traded as high as $1.53 and last traded at $1.53. Approximately 1,334,959 shares were traded during trading, a decline of 82% from the average daily volume of 7,419,561 shares. The stock had previously closed at $1.47.

Analysts Set New Price Targets

Several brokerages have issued reports on OPK. Barrington Research restated an "outperform" rating and issued a $2.25 price target on shares of OPKO Health in a report on Friday, September 20th. Piper Sandler reissued an "overweight" rating and issued a $3.00 price objective on shares of OPKO Health in a research note on Tuesday, September 17th. HC Wainwright reissued a "buy" rating and issued a $3.00 price target on shares of OPKO Health in a report on Thursday, September 26th. Finally, StockNews.com upgraded shares of OPKO Health to a "sell" rating in a research report on Saturday, July 27th.

OPKO Health Price Performance

The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.05 billion, a PE ratio of -4.29 and a beta of 1.63. The stock has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $1.39.

OPKO Health (NASDAQ:OPK - Get Free Report) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.08. The firm had revenue of $182.20 million for the quarter, compared to analysts' expectations of $184.70 million. OPKO Health had a negative return on equity of 17.67% and a negative net margin of 33.79%. The firm's revenue for the quarter was down 31.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. Equities analysts expect that OPKO Health, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at OPKO Health

In other news, major shareholder Opko Health, Inc. sold 25,000 shares of the firm's stock in a transaction on Friday, July 19th. The shares were sold at an average price of $32.29, for a total transaction of $807,250.00. Following the completion of the transaction, the insider now owns 3,383,403 shares of the company's stock, valued at approximately $109,250,082.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 636,444 shares of company stock valued at $21,125,127. 47.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OPKO Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP boosted its position in OPKO Health by 800.0% in the 2nd quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company's stock worth $55,528,000 after purchasing an additional 39,486,490 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of OPKO Health in the second quarter valued at $1,840,000. Squarepoint Ops LLC purchased a new stake in shares of OPKO Health in the second quarter valued at $592,000. Lazard Asset Management LLC purchased a new position in OPKO Health during the first quarter worth about $258,000. Finally, AWM Investment Company Inc. raised its holdings in shares of OPKO Health by 18.2% in the 1st quarter. AWM Investment Company Inc. now owns 1,300,000 shares of the biotechnology company's stock worth $1,560,000 after purchasing an additional 200,000 shares during the period. Institutional investors own 64.63% of the company's stock.

OPKO Health Company Profile

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.