Barrington Research Has Lowered Expectations for OPKO Health (NASDAQ:OPK) Stock Price

OPKO Health (NASDAQ:OPK) had its price target reduced by equities researchers at Barrington Research from $2.25 to $1.50 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s target price suggests a potential upside of 26.05% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Wall Street Zen raised shares of OPKO Health from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Weiss Ratings restated a “sell (d-)” rating on shares of OPKO Health in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. started coverage on OPKO Health in a report on Thursday, November 20th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.03.

OPKO Health Stock Performance

NASDAQ:OPK opened at $1.19 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.32 and a current ratio of 3.70. OPKO Health has a fifty-two week low of $1.11 and a fifty-two week high of $2.04. The company has a market cap of $903.29 million, a price-to-earnings ratio of -3.97 and a beta of 1.50. The stock has a fifty day moving average price of $1.27 and a 200-day moving average price of $1.36.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $148.50 million during the quarter, compared to the consensus estimate of $139.76 million. OPKO Health had a negative return on equity of 17.30% and a negative net margin of 37.19%.OPKO Health’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 earnings per share. As a group, equities analysts anticipate that OPKO Health will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On OPKO Health

Several hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its holdings in OPKO Health by 2,369.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 119,223 shares of the biotechnology company’s stock worth $198,000 after purchasing an additional 114,396 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of OPKO Health by 466.7% in the first quarter. AQR Capital Management LLC now owns 1,608,906 shares of the biotechnology company’s stock valued at $2,671,000 after buying an additional 1,324,988 shares during the period. Millennium Management LLC increased its stake in shares of OPKO Health by 39.2% in the first quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company’s stock valued at $10,602,000 after buying an additional 1,798,385 shares during the period. Goldman Sachs Group Inc. raised its holdings in OPKO Health by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,001,214 shares of the biotechnology company’s stock valued at $6,642,000 after buying an additional 161,394 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in OPKO Health during the 1st quarter worth approximately $130,000. 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.