OPKO Health (NASDAQ:OPK) Upgraded at Barrington Research

OPKO Health (NASDAQ:OPK) was upgraded by equities research analysts at Barrington Research from a “market perform” rating to an “outperform” rating in a report released on Friday, MarketBeat.com reports. The brokerage presently has a $2.25 price target on the biotechnology company’s stock. Barrington Research’s price objective suggests a potential upside of 39.75% from the stock’s previous close.

A number of other equities analysts also recently weighed in on OPK. Zacks Research upgraded shares of OPKO Health from a “hold” rating to a “strong-buy” rating in a report on Monday, September 28th. HC Wainwright restated a “buy” rating on shares of OPKO Health in a research note on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OPKO Health in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1.93.

OPKO Health Trading Up 17.5%

OPKO Health stock opened at $1.61 on Friday. OPKO Health has a one year low of $0.98 and a one year high of $1.75. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -17.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.35 and a quick ratio of 2.93. The firm has a 50-day moving average of $1.52 and a 200-day moving average of $1.37.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings data on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The company had revenue of $163.58 million for the quarter, compared to analysts’ expectations of $131.23 million. OPKO Health had a negative return on equity of 5.88% and a negative net margin of 12.40%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) EPS. On average, equities analysts expect that OPKO Health will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OPKO Health

Several hedge funds and other institutional investors have recently modified their holdings of OPK. BlackRock Inc. acquired a new position in shares of OPKO Health during the 2nd quarter worth $55,468,000. AWM Investment Company Inc. acquired a new stake in OPKO Health in the second quarter valued at about $3,165,000. Bank of New York Mellon Corp bought a new position in OPKO Health in the second quarter valued at about $1,995,000. Bank of America Corp DE grew its position in OPKO Health by 80.0% in the first quarter. Bank of America Corp DE now owns 1,141,849 shares of the biotechnology company’s stock valued at $1,302,000 after acquiring an additional 507,590 shares during the last quarter. Finally, OP Asset Management Ltd bought a new position in OPKO Health in the first quarter valued at about $1,257,000. Institutional investors own 64.63% of the company’s stock.

Key Stories Impacting OPKO Health

Here are the key news stories impacting OPKO Health this week:

• Positive Sentiment: Labcorp will acquire the BioReference assets for $722 million in cash, with total consideration potentially reaching $872 million. The proceeds could strengthen OPKO’s balance sheet, improve financial flexibility and help fund its biopharma pipeline. Labcorp and OPKO transaction announcement
• Positive Sentiment: The assets being sold include specialty testing services in women’s health and BioReference’s prostate cancer risk-assessment test, expanding Labcorp’s clinical testing platform while monetizing businesses for OPKO. Labcorp BioReference asset details
• Positive Sentiment: The deal represents a strategic shift for OPKO toward its biopharmaceutical business, which investors may view as a potentially higher-growth focus than operating a broad clinical laboratory unit. OPKO refocuses on biopharma
• Neutral Sentiment: The transaction remains subject to customary closing conditions, and the final proceeds may depend on the deal’s structure and contingent payments. Investors will likely monitor how OPKO allocates the cash and whether the sale affects BioReference-related revenue and earnings.

OPKO Health Company Profile

OPKO Health, Inc is a healthcare company focused on diagnostics and pharmaceuticals. Through its diagnostics businesses, the company provides laboratory services and specialized tests intended to support the detection, diagnosis and management of disease. Its operations include BioReference Health, a clinical laboratory business serving physicians, hospitals, employers and patients, as well as the 4Kscore test, which helps assess the risk of aggressive prostate cancer.

OPKO’s pharmaceutical business develops and commercializes treatments for conditions including kidney disease, endocrine disorders and growth-related conditions.