On Wednesday, Opko Health Inc. (NYSE:OPK) hosted an Analyst & Investor Day providing an overview of its diversified business units and update on continued progress in its research and development and commercial programs.
Following the event, Jefferies analyst Brandon Couillard reiterated a Hold rating on the stock, while reducing the price target to $10.00 (from $11.00), which implies an upside of 9% from current levels.
Couillard stated, “OPK’s investor meeting in NYC was a forum to reaffirm confidence in its latestage new product pipeline across both its diagnostics & pharma/biologics units. However, with both 4Kscore & Rayaldee currently in a holding pattern, there was little incremental information to alter the debate, in our view. We are trimming our 2017/18 revenue forecasts by 6%-8% to account for several recent launch timeline delays. Our PT moves to $10 on the revision.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Brandon Couillard has a yearly average return of 11.8% and a 74% success rate. Couillard has a average return when recommending OPK, and is ranked #162 out of 3976 analysts.Out of the 6 analysts polled by TipRanks, 4 rate Opko Health stock a Buy, while 2 rate the stock a Hold. With a return potential of 68.3%, the stock’s consensus target price stands at $15.40.
OPKO Health, Inc., a biopharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies in the United States, Ireland, Chile, Spain, Israel, and Mexico. Its diagnostics business operates Bio-Reference Laboratories, a clinical laboratory that offers comprehensive laboratory testing services in the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, womens health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units. The Bio-Reference Laboratories also provides core genetic testing and leverages products, such as the 4Kscore prostate cancer test and the Claros 1 in-office immunoassay platform. The companys pharmaceutical segment features Rayaldee, a treatment for secondary hyperparathyroidism in stage 3-4 chronic kidney disease patients with vitamin D deficiency and VARUBI for chemotherapy-induced nausea and vomiting. Its biologics business engages in developing and commercializing hGH-CTP, a recombinant human growth hormone product under development for the treatment of growth hormone deficiency, and developing Factor VIIa drug for hemophilia using the carboxl terminal peptide technology.