Stock Update (NYSE:OPK): Opko Health Inc. Announces Move to NASDAQ Stock Market


Opko Health Inc. (NYSE:OPK) announces that it will move its stock exchange listing to The NASDAQ Stock Market from The New York Stock Exchange. The Company expects its common stock will begin trading on the NASDAQ Global Select Market (“NASDAQ”) on June 24, 2016, and its shares will continue to trade under the ticker symbol “OPK.”

“NASDAQ is home to many of the world’s best healthcare companies and is a natural fit for OPKO. This move will enhance our public visibility while offering our stockholders cost effective access to advanced trading technologies,” said Phillip Frost, M.D., Chairman and Chief Executive Officer ofOPKO.

Bob Greifeld, CEO of Nasdaq, said, “Under the leadership of Dr. Frost, OPKO has long been recognized for driving innovation in the pharmaceutical and diagnostics industries to create products that improve our lives. We are proud to welcome the company to Nasdaq.”

The Company has notified the NYSE that it will voluntarily delist its common stock from the NYSE. The last day of trading of the common stock on theNYSE is expected to be on or about June 23, 2016. Until the Company’s Common Stock begins trading on NASDAQ, the Company’s Common Stock will remain trading on NYSE under the ticker symbol “OPK.”

announces that it will move its stock exchange listing to The NASDAQ Stock Market from The New York Stock Exchange (the “NYSE”). The Company expects its common stock will begin trading on the NASDAQ Global Select Market (“NASDAQ”) on June 24, 2016, and its shares will continue to trade under the ticker symbol “OPK.”

“NASDAQ is home to many of the world’s best healthcare companies and is a natural fit for OPKO. This move will enhance our public visibility while offering our stockholders cost effective access to advanced trading technologies,” said Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO.

Bob Greifeld, CEO of Nasdaq, said, “Under the leadership of Dr. Frost, OPKO has long been recognized for driving innovation in the pharmaceutical and diagnostics industries to create products that improve our lives. We are proud to welcome the company to Nasdaq.”

The Company has notified the NYSE that it will voluntarily delist its common stock from the NYSE. The last day of trading of the common stock on theNYSE is expected to be on or about June 23, 2016. Until the Company’s Common Stock begins trading on NASDAQ, the Company’s Common Stock will remain trading on NYSE under the ticker symbol “OPK.” (Original Source)

Shares of Opko Health is currently trading at $9.56, up $0.26 or 2.80%. OPK has a 1-year high of $17.51 and a 1-year low of $7.12. The stock’s 50-day moving average is $10.21 and its 200-day moving average is $9.84.

On the ratings front, Opko has been the subject of a number of recent research reports. In a report issued on June 3, Standpoint Research analyst Ronnie Moas initiated coverage with a Buy rating on OPK and a price target of $16, which implies an upside of 72.0% from current levels. Separately, on May 31, Oppenheimer’s Rohit Vanjani reiterated a Hold rating on the stock .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ronnie Moas and Rohit Vanjani have a total average return of 4.6% and 9.5% respectively. Moas has a success rate of 67.3% and is ranked #83 out of 3892 analysts, while Vanjani has a success rate of 52.1% and is ranked #288.

Overall, 2 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $15.75 which is 69.4% above where the stock opened today.

OPKO Health, Inc. is a multi-national pharmaceutical and diagnostics company. The company is engaged in discovering, developing, commercializing and expertise its novel and proprietary technologies with a focus to provide unmet medical needs through a range of develops solutions to diagnose, treat and prevent various conditions, including molecular diagnostics, point-of-care tests and proprietary pharmaceuticals and vaccines. It operates its business through two segments: Pharmaceutical and Diagnostics. The Pharmaceutical segment consists of pharmaceutical research and development operations in Chile, Mexico, Ireland, Israel and Spain. The Diagnostics segment consists of pathology operations and point-of-care and molecular diagnostics operations.