Piper Sandler Lowers OPKO Health (NASDAQ:OPK) Price Target to $4.00

OPKO Health (NASDAQ:OPK – Get Rating) had its price objective lowered by Piper Sandler from $5.00 to $4.00 in a report published on Friday, Stock Target Advisor reports. The firm currently has an overweight rating on the biotechnology company’s stock.

OPKO Health Price Performance

NASDAQ OPK opened at $2.28 on Friday. OPKO Health has a one year low of $2.15 and a one year high of $5.25. The stock’s 50 day simple moving average is $2.62 and its 200 day simple moving average is $3.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.12 and a current ratio of 2.44.

OPKO Health (NASDAQ:OPK – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.12). The firm had revenue of $309.90 million during the quarter, compared to the consensus estimate of $326.87 million. OPKO Health had a negative net margin of 14.18% and a negative return on equity of 7.76%. The firm’s quarterly revenue was down 30.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Sell-side analysts anticipate that OPKO Health will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at OPKO Health

In related news, CEO Phillip Md Et Al Frost purchased 400,000 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average price of $2.78 per share, with a total value of $1,112,000.00. Following the purchase, the chief executive officer now directly owns 195,156,694 shares in the company, valued at approximately $542,535,609.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Vice Chairman Elias A. Zerhouni purchased 89,600 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average price of $2.79 per share, with a total value of $249,984.00. Following the purchase, the insider now directly owns 89,600 shares in the company, valued at approximately $249,984. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phillip Md Et Al Frost purchased 400,000 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was bought at an average cost of $2.78 per share, for a total transaction of $1,112,000.00. Following the purchase, the chief executive officer now owns 195,156,694 shares in the company, valued at $542,535,609.32. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,729,600 shares of company stock worth $4,674,584. Insiders own 40.97% of the company’s stock.

Institutional Trading of OPKO Health

Hedge funds have recently added to or reduced their stakes in the business. Cornerstone Advisory LLC bought a new position in OPKO Health during the 4th quarter worth about $29,000. Aigen Investment Management LP bought a new position in OPKO Health during the 2nd quarter worth about $29,000. Humankind Investments LLC bought a new position in OPKO Health during the 1st quarter worth about $37,000. Guggenheim Capital LLC bought a new position in OPKO Health during the 1st quarter worth about $38,000. Finally, Point72 Hong Kong Ltd bought a new position in OPKO Health during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 27.83% of the company’s stock.

OPKO Health Company Profile

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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 a novel diagnostic instrument system to provide blood test results in the point-of-care setting, as well as 4Kscore prostate cancer testing services.