Opko Health (NASDAQ:OPK) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Opko Health (NASDAQ:OPK) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. The firm currently has $2.00 target price on the biotechnology company’s stock.

According to Zacks, “OPKO Health has gained significantly from RAYALDEE contribution in recent times. Further, OPKO Health’s utilization of the 4Kscore remains strong, with nearly 18,800 tests registered in the second quarter. These apart, the company’s clinical development programs look promising with a robust pipeline of candidates. Several metabolic and endocrinology programs that are underway should provide OPKO Health a competitive advantage. However, the company’s gross margin is under pressure at the moment. Moreover, the company faces cutthroat competition in the MedTech space. Sluggishness in the Services revenue segment remains a concern. OPKO Health underperformed its industry in a year’s time.”

A number of other equities analysts have also recently commented on the company. Barrington Research reissued a buy rating and set a $4.00 price target on shares of Opko Health in a report on Thursday, September 12th. ValuEngine raised Opko Health from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, BidaskClub cut Opko Health from a hold rating to a sell rating in a report on Wednesday, October 16th.

NASDAQ:OPK opened at $2.13 on Friday. The stock has a fifty day moving average price of $2.05 and a 200-day moving average price of $2.10. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13. Opko Health has a fifty-two week low of $1.73 and a fifty-two week high of $3.93.

Opko Health (NASDAQ:OPK) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $226.40 million during the quarter, compared to the consensus estimate of $225.07 million. Opko Health had a negative return on equity of 12.17% and a negative net margin of 26.55%. The company’s revenue was down 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. Analysts expect that Opko Health will post -0.41 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Cito Capital Group LLC raised its holdings in shares of Opko Health by 5.1% during the 2nd quarter. Cito Capital Group LLC now owns 184,000 shares of the biotechnology company’s stock worth $449,000 after buying an additional 9,000 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Opko Health by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 410,979 shares of the biotechnology company’s stock worth $1,002,000 after purchasing an additional 10,000 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Opko Health by 100.0% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 20,000 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 10,000 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in Opko Health in the 3rd quarter worth about $25,000. Finally, Aperio Group LLC increased its holdings in Opko Health by 21.0% in the 2nd quarter. Aperio Group LLC now owns 72,789 shares of the biotechnology company’s stock worth $177,000 after purchasing an additional 12,631 shares in the last quarter. 24.55% of the stock is owned by institutional investors.

About Opko Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories, a clinical laboratory that offers laboratory testing services.

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