Opko Health Inc. (NASDAQ:OPK) Short Interest Down 12.1% in October

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Opko Health Inc. (NASDAQ:OPK) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 74,550,000 shares, a decline of 12.1% from the September 30th total of 84,770,000 shares. Based on an average daily volume of 4,830,000 shares, the days-to-cover ratio is currently 15.4 days. Currently, 19.5% of the company’s stock are short sold.

A number of equities research analysts have issued reports on the stock. Barrington Research restated a “buy” rating and set a $4.00 price target on shares of Opko Health in a report on Thursday, September 12th. Zacks Investment Research upgraded shares of Opko Health from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research note on Friday, October 18th. BidaskClub cut shares of Opko Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, ValuEngine raised shares of Opko Health from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

In other Opko Health news, Director Richard C. Pfenniger, Jr. acquired 25,000 shares of Opko Health stock in a transaction dated Friday, October 25th. The stock was acquired at an average cost of $1.45 per share, for a total transaction of $36,250.00. Following the completion of the transaction, the director now owns 275,000 shares in the company, valued at approximately $398,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Phillip Md Et Al Frost acquired 2,000,000 shares of Opko Health stock in a transaction dated Friday, October 25th. The shares were acquired at an average price of $1.50 per share, with a total value of $3,000,000.00. Following the completion of the transaction, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at approximately $4,603,426.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 3,290,000 shares of company stock worth $4,907,750. Corporate insiders own 42.25% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC bought a new stake in shares of Opko Health during the third quarter valued at approximately $25,000. Eqis Capital Management Inc. bought a new stake in shares of Opko Health during the second quarter valued at approximately $33,000. Sawtooth Solutions LLC bought a new stake in shares of Opko Health during the second quarter valued at approximately $45,000. Kings Point Capital Management bought a new position in Opko Health in the second quarter valued at approximately $45,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Opko Health by 100.0% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 20,000 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 10,000 shares during the last quarter. 22.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ OPK traded down $0.01 during mid-day trading on Monday, hitting $1.48. 102,238 shares of the stock were exchanged, compared to its average volume of 8,227,058. The company has a market cap of $951.81 million, a P/E ratio of -5.92 and a beta of 2.17. The stock’s fifty day simple moving average is $1.81 and its two-hundred day simple moving average is $1.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.08. Opko Health has a twelve month low of $1.33 and a twelve month high of $3.93.

Opko Health (NASDAQ:OPK) last posted its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.02). The firm had revenue of $228.80 million for the quarter, compared to analyst estimates of $225.40 million. Opko Health had a negative return on equity of 14.42% and a negative net margin of 30.98%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. As a group, equities research analysts predict that Opko Health will post -0.43 earnings per share for the current fiscal year.

About Opko Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories, a clinical laboratory that offers laboratory testing services.

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