OPKO Health (NASDAQ:OPK) Stock Price Up 5.1% – Time to Buy?

OPKO Health, Inc. (NASDAQ:OPK) shot up 5.1% during mid-day trading on Friday . The stock traded as high as $1.54 and last traded at $1.5350. 929,667 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,688,704 shares. The stock had previously closed at $1.46.

Analyst Ratings Changes

A number of equities analysts have recently commented on OPK shares. Wall Street Zen lowered shares of OPKO Health from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Barrington Research downgraded OPKO Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings raised OPKO Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, OPKO Health currently has an average rating of “Hold” and a consensus price target of $1.55.

OPKO Health Stock Up 1.0%

The firm has a 50 day moving average of $1.21 and a 200 day moving average of $1.25. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -5.46 and a beta of 1.50. The company has a quick ratio of 3.17, a current ratio of 3.61 and a debt-to-equity ratio of 0.28.

OPKO Health (NASDAQ:OPK) last issued its earnings results on Tuesday, April 28th. The biotechnology company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). OPKO Health had a negative return on equity of 16.78% and a negative net margin of 36.63%.The business had revenue of $124.20 million during the quarter, compared to the consensus estimate of $130.51 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, sell-side analysts predict that OPKO Health, Inc. will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in OPKO Health by 80.0% during the first quarter. Bank of America Corp DE now owns 1,141,849 shares of the biotechnology company’s stock worth $1,302,000 after acquiring an additional 507,590 shares in the last quarter. Renaissance Technologies LLC bought a new stake in OPKO Health in the first quarter valued at $125,000. State of Wyoming bought a new stake in OPKO Health in the first quarter valued at $190,000. First Trust Advisors LP acquired a new position in shares of OPKO Health during the first quarter valued at about $570,000. Finally, Fifth Third Bancorp acquired a new position in shares of OPKO Health during the first quarter valued at about $147,000. Institutional investors and hedge funds own 64.63% of the company’s stock.

OPKO Health Company Profile

OPKO Health, Inc (NASDAQ:OPK) is a diversified, global healthcare company headquartered in Miami, Florida, with a focus on diagnostics, pharmaceuticals and biologics development. The company operates two main business segments—Laboratory Services and Pharma Services & Products—driven by its mission to advance patient care through innovation in testing and targeted therapies.

In its Laboratory Services segment, OPKO leverages BioReference Laboratories, one of the largest full-service commercial labs in the United States.