OPKO Health (NASDAQ:OPK) Sees Strong Trading Volume – Should You Buy?

OPKO Health, Inc. (NASDAQ:OPK) saw unusually-high trading volume on Monday . Approximately 4,977,027 shares were traded during mid-day trading, an increase of 178% from the previous session’s volume of 1,793,125 shares.The stock last traded at $1.46 and had previously closed at $1.48.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of OPKO Health from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. Piper Sandler reissued an “overweight” rating and issued a $3.00 target price on shares of OPKO Health in a report on Tuesday, September 17th. Barrington Research reaffirmed an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a report on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Thursday, September 26th.

OPKO Health Stock Performance

The business’s 50-day simple moving average is $1.55 and its 200 day simple moving average is $1.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.69 and a current ratio of 2.97. The firm has a market cap of $989.60 million, a P/E ratio of -7.63 and a beta of 1.63.

Insider Activity

In related news, CEO Phillip Md Et Al Frost purchased 100,000 shares of OPKO Health stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $1.62 per share, for a total transaction of $162,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,612,405 shares in the company, valued at $342,812,096.10. This represents a 0.05 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired 1,304,255 shares of company stock valued at $2,024,605 in the last quarter. 47.26% of the stock is currently owned by insiders.

Institutional Trading of OPKO Health

Several institutional investors and hedge funds have recently modified their holdings of the company. Rubric Capital Management LP grew its position in shares of 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 worth $72,573,000 after purchasing an additional 4,284,336 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in OPKO Health by 142.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company’s stock valued at $2,227,000 after buying an additional 876,272 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of OPKO Health during the second quarter valued at approximately $1,840,000. PFG Investments LLC lifted its holdings in shares of OPKO Health by 10.4% in the third quarter. PFG Investments LLC now owns 1,061,090 shares of the biotechnology company’s stock worth $1,581,000 after buying an additional 100,125 shares in the last quarter. Finally, Clearline Capital LP bought a new position in shares of OPKO Health during the third quarter worth $1,083,000. 64.63% of the stock is currently owned by institutional investors.

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.