OPKO Health (NASDAQ:OPK) Announces Quarterly Earnings Results

OPKO Health (NASDAQ:OPK) released its quarterly earnings data on Tuesday. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03), Briefing.com reports. The business had revenue of $173.70 million during the quarter, compared to analyst estimates of $182.99 million. OPKO Health had a negative net margin of 21.76% and a negative return on equity of 12.69%. The business’s quarterly revenue was down 26.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share.

OPKO Health Stock Performance

NASDAQ OPK opened at $1.26 on Friday. OPKO Health has a 12-month low of $0.85 and a 12-month high of $2.24. The firm has a 50-day moving average price of $1.15 and a two-hundred day moving average price of $1.22. The company has a market capitalization of $878.21 million, a P/E ratio of -5.04 and a beta of 1.81. The company has a quick ratio of 1.22, a current ratio of 1.55 and a debt-to-equity ratio of 0.15.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OPK shares. Piper Sandler reaffirmed an “overweight” rating and set a $5.00 price objective on shares of OPKO Health in a research report on Monday, April 1st. StockNews.com lowered shares of OPKO Health from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Barrington Research restated an “outperform” rating and set a $1.50 price objective on shares of OPKO Health in a research report on Monday, April 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of OPKO Health in a research report on Wednesday.

Insider Activity

In related news, CEO Phillip Md Et Al Frost acquired 500,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $0.99 per share, for a total transaction of $495,000.00. Following the purchase, the chief executive officer now directly owns 208,868,225 shares in the company, valued at $206,779,542.75. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders acquired 3,100,000 shares of company stock worth $2,923,000. Corporate insiders own 47.26% of the company’s stock.

About OPKO Health

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.