Barrington Research slashes price target on Opko Health Inc [OPK] – find out why.

Opko Health Inc [NASDAQ: OPK] surged by $0.13 during the normal trading session on while it closed the day at $1.20. The company report on March 28, 2024 at 8:00 AM that Labcorp Announces Acquisition of Select Assets of BioReference Health’s Diagnostics Business.

Transaction to enhance Labcorp’s laboratory services network and expand access to the company’s high-quality clinical laboratory services.

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Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, and OPKO Health, Inc. (Nasdaq: OPK), a multinational biopharmaceutical and diagnostics company, announced today that they have entered into an agreement for Labcorp to acquire select assets of BioReference Health, a wholly owned subsidiary of OPKO Health.

Opko Health Inc stock has also gained 29.03% of its value over the past 7 days. However, OPK stock has declined by -24.05% in the 3 months of the year. Over the past six months meanwhile, it has lost -23.08% and lost -20.53% year-on date.

The market cap for OPK stock reached $836.39 million, with 773.28 million shares outstanding and 327.73 million shares in the current float. Compared to the average trading volume of 14.65M shares, OPK reached a trading volume of 28873661 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Opko Health Inc [OPK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OPK shares is $4.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OPK stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barrington Research have made an estimate for Opko Health Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 29, 2023. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on December 15, 2022, representing the official price target for Opko Health Inc stock.

The Average True Range (ATR) for Opko Health Inc is set at 0.07, with the Price to Sales ratio for OPK stock in the period of the last 12 months amounting to 0.97. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 0.14.

OPK stock trade performance evaluation

Opko Health Inc [OPK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.03. With this latest performance, OPK shares gained by 21.77% in over the last four-week period, additionally sinking by -23.08% over the last 6 months – not to mention a drop of -13.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OPK stock in for the last two-week period is set at 74.24, with the RSI for the last a single of trading hit 84.30, and the three-weeks RSI is set at 65.77 for Opko Health Inc [OPK]. The present Moving Average for the last 50 days of trading for this stock 0.9855, while it was recorded at 1.0509 for the last single week of trading, and 1.4431 for the last 200 days.

Opko Health Inc [OPK]: An insightful look at the core fundamentals

Opko Health Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.22 and a Current Ratio set at 1.55.

Earnings per share (EPS) analysis for Opko Health Inc [OPK] stock

With the latest financial reports released by the company, Opko Health Inc posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 75.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OPK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Opko Health Inc go to 12.00%.

Opko Health Inc [OPK]: Institutional Ownership

The top three institutional holders of OPK stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OPK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OPK stock with ownership which is approximately 5.8325%.