Zacks Investment Research lowered shares of Opko Health (NASDAQ:OPK) from a hold rating to a sell rating in a research note published on Wednesday.
According to Zacks, “OPKO Health is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies. “
A number of other research firms have also recently commented on OPK. JPMorgan Chase & Co. cut Opko Health from a neutral rating to an underweight rating and set a $7.00 price objective for the company. in a research report on Friday, March 2nd. BidaskClub cut Opko Health from a sell rating to a strong sell rating in a research report on Friday, February 2nd. ValuEngine cut Opko Health from a sell rating to a strong sell rating in a research report on Thursday, March 1st. Finally, Cantor Fitzgerald set a $20.00 price target on Opko Health and gave the stock a buy rating in a research report on Thursday, March 1st. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $13.25.
In related news, CEO Phillip Md Et Al Frost purchased 100,000 shares of Opko Health stock in a transaction on Wednesday, January 24th. The stock was acquired at an average price of $4.89 per share, for a total transaction of $489,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,068,951 shares in the company, valued at approximately $15,007,170.39. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders acquired 1,306,300 shares of company stock valued at $4,935,197. Company insiders own 40.19% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OPK. Ellington Management Group LLC purchased a new stake in shares of Opko Health during the fourth quarter worth about $112,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Opko Health during the third quarter worth about $118,000. State of Alaska Department of Revenue purchased a new stake in shares of Opko Health during the fourth quarter worth about $144,000. The Manufacturers Life Insurance Company grew its position in shares of Opko Health by 7.9% during the second quarter. The Manufacturers Life Insurance Company now owns 22,535 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 1,657 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Opko Health during the fourth quarter worth about $154,000. Hedge funds and other institutional investors own 22.71% of the company’s stock.
Opko Health Company Profile
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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