Piper Sandler Cuts OPKO Health (NASDAQ:OPK) Price Target to $5.00

OPKO Health (NASDAQ:OPKGet Rating) had its target price cut by Piper Sandler from $6.00 to $5.00 in a research note issued to investors on Tuesday morning, The Fly reports.

OPK has been the subject of a number of other reports. StockNews.com began coverage on shares of OPKO Health in a research note on Thursday, March 31st. They issued a sell rating for the company. Zacks Investment Research lowered shares of OPKO Health from a buy rating to a hold rating and set a $6.00 price objective for the company. in a research note on Monday, January 24th. TheStreet lowered shares of OPKO Health from a c rating to a d+ rating in a research note on Friday, February 25th. Finally, Barrington Research lowered shares of OPKO Health from an outperform rating to a market perform rating in a research note on Monday, January 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $6.00.

Shares of OPK opened at $3.03 on Tuesday. The firm has a market capitalization of $2.07 billion, a P/E ratio of -16.83 and a beta of 1.88. OPKO Health has a 12-month low of $2.43 and a 12-month high of $5.25. The company has a current ratio of 2.44, a quick ratio of 2.23 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $3.22 and a 200-day moving average price of $3.67.

OPKO Health (NASDAQ:OPKGet Rating) last issued its earnings results on Monday, May 9th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $329.20 million for the quarter, compared to analysts’ expectations of $331.45 million. OPKO Health had a negative net margin of 7.49% and a negative return on equity of 6.86%. The firm’s revenue for the quarter was down 39.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share. Analysts predict that OPKO Health will post -0.11 earnings per share for the current year.

In related news, Vice Chairman Elias A. Zerhouni acquired 89,600 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average price of $2.79 per share, for a total transaction of $249,984.00. Following the completion of the acquisition, the insider now directly owns 89,600 shares in the company, valued at approximately $249,984. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Phillip Md Et Al Frost acquired 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, for a total transaction of $1,112,000.00. Following the acquisition, the chief executive officer now owns 195,156,694 shares of the company’s stock, valued at $542,535,609.32. The disclosure for this purchase can be found here. Insiders acquired 1,574,600 shares of company stock valued at $4,713,884 over the last quarter. 41.47% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of OPKO Health by 1.0% during the first quarter. Vanguard Group Inc. now owns 36,072,131 shares of the biotechnology company’s stock valued at $124,088,000 after acquiring an additional 346,707 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of OPKO Health by 73.2% during the first quarter. Dimensional Fund Advisors LP now owns 7,184,414 shares of the biotechnology company’s stock valued at $24,717,000 after acquiring an additional 3,037,320 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of OPKO Health during the fourth quarter valued at about $32,006,000. Norges Bank acquired a new position in shares of OPKO Health during the fourth quarter valued at about $20,569,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of OPKO Health by 96.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,081,001 shares of the biotechnology company’s stock valued at $19,629,000 after acquiring an additional 2,003,147 shares in the last quarter. Hedge funds and other institutional investors own 27.83% of the company’s stock.

OPKO Health Company Profile (Get Rating)

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.

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