Barrington analyst Michael Petusky has maintained their bullish stance on OPK stock, giving a Buy rating today.
Michael Petusky has given his Buy rating for Opko Health due to various reasons. The company’s financial results for the third quarter were roughly in line with expectations, even managing a minor top-line beat. Although there was a slight shortfall in EPS compared to predictions, this was countered by a higher revenue than estimated. Furthermore, BRL’s operating performance showed noticeable improvements when compared to the previous quarter and the same quarter from last year, indicating a positive trend.
In addition to this, the company’s growth hormone NGENLA, a partnership with Pfizer, is now approved in 48 markets and has been commercially launched in 23 countries, which further strengthens the company’s position. Additionally, the management’s hopes for new clinical data regarding Rayaldee’s ability to slow the progression of chronic kidney disease in pre-dialysis patients could potentially lead to increased traction with nephrologists. While it is unclear whether this data will matter, the potential is promising. Therefore, based on these factors, Petusky maintains his Outperform rating on Opko Health’s stock with a target price of $2.
In another report released today, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $5.00 price target.
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Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OPK in relation to earlier this year.
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Opko Health (OPK) Company Description:
OPKO Health, Inc. engages in the provision of healthcare services. It operates through the Diagnostics and Pharmaceuticals segments. The Diagnostics segment comprises clinical laboratory operations which acquired through the Bio-Reference and point-of-care operations. The Pharmaceuticals segment includes the pharmaceutical operations acquired in Chile, Mexico, Ireland, Israel, and Spain; and pharmaceutical research and development operations. The company was founded in October 1991 and is headquartered in Miami, FL.
Read More on OPK:
- OPKO Health Reports Third Quarter 2023 Business Highlights and Financial Results
- Options Volatility and Implied Earnings Moves Today, November 06, 2023
- New Clinical Data on OPKO Health’s RAYALDEE® (ER Calcifediol) Presented at Kidney Week 2023
- Opko Health presents new data on RAYALDEE at Kidney Week 2023
- OPKO Health to Report Third Quarter 2023 Financial Results on November 6, 2023
