OPKO Health (NASDAQ:OPK) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of OPKO Health (NASDAQ:OPK) in a research report sent to investors on Thursday, MarketBeat.com reports. The firm issued a neutral rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group restated a “hold” rating and set a $1.60 target price (down previously from $2.00) on shares of OPKO Health in a research note on Thursday, October 30th. Zacks Research upgraded shares of OPKO Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Wall Street Zen upgraded OPKO Health from a “strong sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of OPKO Health in a research note on Wednesday, October 8th. Finally, Barrington Research restated an “outperform” rating and issued a $2.25 price target on shares of OPKO Health in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.28.

OPKO Health Stock Performance

OPK opened at $1.32 on Thursday. The company has a quick ratio of 3.02, a current ratio of 3.41 and a debt-to-equity ratio of 0.25. OPKO Health has a 12-month low of $1.11 and a 12-month high of $2.04. The business has a 50 day moving average of $1.44 and a 200-day moving average of $1.37. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -5.28 and a beta of 1.50.

OPKO Health (NASDAQ:OPK) last posted its earnings results on Wednesday, October 29th. The biotechnology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. OPKO Health had a negative return on equity of 13.62% and a negative net margin of 28.10%.The business had revenue of $151.67 million for the quarter, compared to analyst estimates of $165.74 million. During the same period in the previous year, the firm earned $0.03 EPS. The firm’s revenue was down 12.6% compared to the same quarter last year. On average, equities research analysts expect that OPKO Health will post -0.25 earnings per share for the current year.

Insider Transactions at OPKO Health

In other news, CEO Phillip Md Et Al Frost bought 580,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was purchased at an average cost of $1.33 per share, for a total transaction of $771,400.00. Following the completion of the transaction, the chief executive officer owned 216,706,448 shares of the company’s stock, valued at $288,219,575.84. This trade represents a 0.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders bought 1,843,300 shares of company stock valued at $2,421,491. 49.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sculptor Capital LP bought a new stake in OPKO Health during the 1st quarter worth approximately $21,111,000. Graham Capital Management L.P. grew its stake in shares of OPKO Health by 214.7% in the first quarter. Graham Capital Management L.P. now owns 1,810,392 shares of the biotechnology company’s stock worth $3,005,000 after purchasing an additional 3,388,292 shares during the last quarter. Geode Capital Management LLC increased its holdings in OPKO Health by 23.7% in the second quarter. Geode Capital Management LLC now owns 10,424,473 shares of the biotechnology company’s stock valued at $13,763,000 after purchasing an additional 1,995,633 shares during the period. Millennium Management LLC raised its position in OPKO Health by 39.2% during the 1st quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company’s stock worth $10,602,000 after purchasing an additional 1,798,385 shares during the last quarter. Finally, Nuveen LLC acquired a new position in OPKO Health during the 1st quarter worth about $2,286,000. Institutional investors own 64.63% of the company’s stock.

About OPKO Health

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 4Kscore prostate cancer test.