Opko Health Inc. (NASDAQ:OPK) announced that it will commence shipments of RAYALDEE™ (calcifediol) extended-release capsules to distributors in the United States on Tuesday, November 29, 2016. The product will be available nationwide at retail pharmacies as early as Wednesday, November 30, 2016.
The U.S. launch of RAYALDEE follows the successful introduction of the product to thousands of nephrologists attending the American Society of Nephrology (ASN) Kidney Week Meeting last week in Chicago. RAYALDEE was approved by the U.S. Food and Drug Administration (FDA) on June 17, 2016.
“The RAYALDEE launch represents a major milestone for OPKO,” commented Phillip Frost, M.D., CEO and Chairman of OPKO. “RAYALDEE is the first product developed by OPKO to be commercialized by our own marketing and sales teams, and represents an important contribution to the care of patients with chronic kidney disease. Based on the highly positive reception of RAYALDEE by nephrologists attending the recent ASN meeting, we believe that RAYALDEE will become a mainstay in the armamentarium of treatment options available for kidney disease patients.” (Original Source)
Shares of Opko Health are currently trading at $10.37 up $0.17 or 1.67%. OPK has a 1-year high of $11.31 and a 1-year low of $8.71. The stock’s 50-day moving average is $9.82 and its 200-day moving average is $9.90.
On the ratings front, OPKO stock has been the subject of a number of recent research reports. In a report issued on October 10, Oppenheimer analyst Marcus Y. Ho reiterated a Hold rating on OPK. Separately, on October 7, Jefferies’ Brandon Couillard reiterated a Hold rating on the stock and has a price target of $10.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Marcus Y. Ho and Brandon Couillard have a yearly average loss of 7.2% and a return of 10.7% respectively. Ho has a success rate of 33% and is ranked #3129 out of 4240 analysts, while Couillard has a success rate of 65% and is ranked #269.
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.