Opko Health Inc. (NASDAQ:OPK) is aware of a press release by Purcell Julie & Lefkowitz, LLP, a class action litigation firm, that it is investigating the Company for an alleged potential breach of fiduciary duty claim involving the Company’s Board of Directors. The Company has not received any notification or information from Purcell Julie & Lefkowitz regarding its investigation of any potential breach of fiduciary duty or other claim against OPKO’s Board of Directors. Nor have any such claims or allegations been made by any shareholders, other law firms or regulatory bodies. OPKO’s attempts to contact the law firm have gone unanswered. The Company does not believe there is any basis or merit behind the investigation and will vigorously defend itself should any formal allegations or claims be made. (Original Source)
Shares of Opko Health are currently trading at $9.50, down $0.30 or -3.06%. OPK has a 1-year high of $10.54 and a 1-year low of $8.71. The stock’s 50-day moving average is $9.93 and its 200-day moving average is $9.95.
On the ratings front, Opko has been the subject of a number of recent research reports. In a report issued on August 16, Jefferies analyst Brandon Couillard reiterated a Hold rating on OPK. Separately, on August 9, J.P. Morgan’s Dana Flanders reiterated a Buy rating on the stock and has a price target of $14.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Brandon Couillard and Dana Flanders have a total average return of 14.1% and -1.1% respectively. Couillard has a success rate of 69% and is ranked #151 out of 4025 analysts, while Flanders has a success rate of 33% and is ranked #2835.
Overall, 2 research analysts have assigned a Hold rating and 2 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 $18.00 which is 82.2% 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.