OPKO Health (NASDAQ:OPK) Trading 4% Higher Following Insider Buying Activity

OPKO Health, Inc. (NASDAQ:OPK)’s stock price was up 4% during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $1.66 and last traded at $1.65. Approximately 1,068,130 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 6,794,573 shares. The stock had previously closed at $1.59.

Specifically, CEO Phillip Md Et Al Frost acquired 500,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of $1.56 per share, with a total value of $780,000.00. Following the transaction, the chief executive officer now directly owns 212,411,477 shares in the company, valued at approximately $331,361,904.12. The trade was a 0.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OPK. Piper Sandler reiterated an “overweight” rating and set a $3.00 target price on shares of OPKO Health in a research report on Tuesday, September 17th. Barrington Research reaffirmed an “outperform” rating and set a $2.25 price objective on shares of OPKO Health in a research report on Friday, November 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of OPKO Health in a report on Thursday, September 26th.

OPKO Health Price Performance

The company has a current ratio of 2.97, a quick ratio of 2.69 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $1.53 and a 200-day simple moving average of $1.47. The firm has a market cap of $1.09 billion, a PE ratio of -8.37 and a beta of 1.62.

Institutional Trading of OPKO Health

Several institutional investors have recently made changes to their positions in the business. Rubric Capital Management LP grew its stake in OPKO Health by 9.6% during the third quarter. Rubric Capital Management LP now owns 48,706,640 shares of the biotechnology company’s stock valued at $72,573,000 after acquiring an additional 4,284,336 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of OPKO Health by 142.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company’s stock valued at $2,227,000 after purchasing an additional 876,272 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of OPKO Health in the second quarter worth about $592,000. Y.D. More Investments Ltd purchased a new stake in shares of OPKO Health in the second quarter worth about $1,840,000. Finally, Comerica Bank boosted its stake in OPKO Health by 125.0% during the first quarter. Comerica Bank now owns 90,000 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 64.63% 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.