OPKO Health, Inc. to Post Q3 2024 Earnings of ($0.09) Per Share, Barrington Research Forecasts (NASDAQ:OPK)

OPKO Health, Inc. (NASDAQ:OPK) – Investment analysts at Barrington Research lowered their Q3 2024 EPS estimates for shares of OPKO Health in a research note issued on Thursday, August 8th. Barrington Research analyst M. Petusky now forecasts that the biotechnology company will earn ($0.09) per share for the quarter, down from their prior forecast of ($0.07). Barrington Research has a “Outperform” rating and a $2.25 price objective on the stock. The consensus estimate for OPKO Health’s current full-year earnings is ($0.37) per share. Barrington Research also issued estimates for OPKO Health’s Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.21) EPS, FY2026 earnings at ($0.15) EPS, FY2027 earnings at ($0.09) EPS and FY2028 earnings at ($0.01) EPS.

OPKO Health (NASDAQ:OPK) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.08. The business had revenue of $182.20 million for the quarter, compared to the consensus estimate of $184.70 million. OPKO Health had a negative return on equity of 17.89% and a negative net margin of 31.44%. The firm’s revenue for the quarter was down 31.3% compared to the same quarter last year. During the same period last year, the business earned ($0.03) earnings per share.

Several other brokerages have also recently commented on OPK. StockNews.com raised OPKO Health to a “sell” rating in a research report on Saturday, July 27th. Piper Sandler dropped their price target on shares of OPKO Health from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a report on Wednesday, May 8th.

OPKO Health Price Performance

Shares of NASDAQ:OPK opened at $1.52 on Monday. The firm has a market capitalization of $1.06 billion, a PE ratio of -4.34 and a beta of 1.65. The company has a current ratio of 1.91, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. OPKO Health has a 1-year low of $0.85 and a 1-year high of $1.95. The business’s 50 day moving average is $1.35 and its 200-day moving average is $1.22.

Institutional Investors Weigh In On OPKO Health

Hedge funds have recently added to or reduced their stakes in the stock. Choreo LLC bought a new position in OPKO Health in the fourth quarter valued at about $106,000. Charles Schwab Investment Management Inc. boosted its stake in shares of OPKO Health by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,733,700 shares of the biotechnology company’s stock valued at $8,658,000 after purchasing an additional 183,754 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of OPKO Health by 349.8% during the 4th quarter. BNP Paribas Financial Markets now owns 271,872 shares of the biotechnology company’s stock worth $411,000 after buying an additional 211,429 shares during the period. IPG Investment Advisors LLC acquired a new position in OPKO Health in the fourth quarter valued at approximately $30,000. Finally, Moseley Investment Management Inc. bought a new position in OPKO Health in the first quarter valued at approximately $41,000. Institutional investors own 64.63% of the company’s stock.

Insider Activity

In other news, CEO Phillip Md Et Al Frost bought 163,997 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average price of $1.29 per share, for a total transaction of $211,556.13. Following the transaction, the chief executive officer now directly owns 211,132,222 shares of the company’s stock, valued at approximately $272,360,566.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other OPKO Health news, CEO Phillip Md Et Al Frost purchased 163,997 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $1.29 per share, with a total value of $211,556.13. Following the acquisition, the chief executive officer now directly owns 211,132,222 shares of the company’s stock, valued at approximately $272,360,566.38. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Opko Health, Inc. sold 50,000 shares of OPKO Health stock in a transaction on Monday, July 1st. The shares were sold at an average price of $26.63, for a total value of $1,331,500.00. Following the completion of the transaction, the insider now owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 587,033 shares of company stock worth $18,802,488. Corporate insiders own 47.26% of the company’s stock.

OPKO Health Company Profile

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.