OPKO Health (NASDAQ:OPK) Shares Down 4.4% – Should You Sell?

OPKO Health, Inc. (NASDAQ:OPK)’s stock price traded down 4.4% during trading on Wednesday. The company traded as low as $1.63 and last traded at $1.6350. 846,493 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,245,687 shares. The stock had previously closed at $1.71.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OPK. Zacks Research lowered OPKO Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OPKO Health in a report on Wednesday. Barrington Research upgraded OPKO Health from a “market perform” rating to an “outperform” rating and set a $2.25 target price for the company in a research report on Friday, October 16th. UBS Group set a $4.00 target price on shares of OPKO Health in a report on Friday, October 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $4.00 price target (up from $3.00) on shares of OPKO Health in a research report on Friday, October 16th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, OPKO Health currently has a consensus rating of “Hold” and a consensus target price of $3.42.

OPKO Health Price Performance

The firm has a market cap of $1.24 billion, a P/E ratio of -8.79 and a beta of 1.52. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.97 and a quick ratio of 4.65. The stock’s 50-day simple moving average is $1.60 and its two-hundred day simple moving average is $1.36.

OPKO Health (NASDAQ:OPK) last released its earnings results on Wednesday, November 4th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). OPKO Health had a negative net margin of 29.51% and a negative return on equity of 10.90%. The firm had revenue of $130.83 million during the quarter, compared to analyst estimates of $136.62 million. During the same quarter last year, the business earned $0.03 EPS. The business’s revenue was down 56.9% on a year-over-year basis. Equities research analysts forecast that OPKO Health, Inc. will post -0.20 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Voya Investment Management LLC increased its stake in OPKO Health by 9.6% in the 3rd quarter. Voya Investment Management LLC now owns 1,198,779 shares of the biotechnology company’s stock worth $1,930,000 after buying an additional 104,668 shares during the period. Fifth Third Bancorp grew its stake in OPKO Health by 8.8% in the 3rd quarter. Fifth Third Bancorp now owns 185,000 shares of the biotechnology company’s stock worth $298,000 after acquiring an additional 15,000 shares in the last quarter. StoneX Group Inc. purchased a new position in shares of OPKO Health during the third quarter worth approximately $47,000. State of Wyoming increased its position in shares of OPKO Health by 154.6% during the third quarter. State of Wyoming now owns 296,574 shares of the biotechnology company’s stock worth $477,000 after acquiring an additional 180,085 shares during the period. Finally, Partners Wealth Management LLC bought a new stake in shares of OPKO Health during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 64.63% of the company’s stock.

About OPKO Health

OPKO Health is a healthcare company with businesses in diagnostics and pharmaceuticals. Its diagnostic offerings have included BioReference Health laboratory services and the 4Kscore test, which helps assess the risk of aggressive prostate cancer. OPKO’s pharmaceutical products include Rayaldee, a prescription treatment for certain adults with chronic kidney disease and vitamin D insufficiency. The company also co-developed NGENLA, a long-acting growth hormone treatment for children with growth hormone deficiency, with Pfizer.