Oppenheimer Reiterates Outperform On Opko Health Following 3Q14 Results

Oppenheimer analyst Rohit Vanjani reiterated an Outperform rating on Opko Health (NYSE:OPK) with a price target of $12, which represents a potential upside of 41% from where the stock is currently trading. The report follows the company’s third-quarter results and update on its pipeline. 

Vanjani noted, “The 4Kscore test has made good strides since the end of June, likely at least doubling the number of tests ordered Q/Q, launching ex-US in Spain in September, and garnering CPT code issuance from the AMA. Management continues to believe that test will be broadly available in 2015 with the potential for a breakout year. The other major drivers of our valuation, Claros 1, Rayaldee, and hGH-CTP, appear to be on track, with a slight delay noted in the Claros 1 program. Additionally, OPKO anticipates receiving a milestone from Tesaro in 4Q on the order of $5 million due to progression in the Rolapitant program. We continue to view royalties from Rolapitant sales as upside.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Rohit Vanjani has a total average return of 37.4% and a 100.0% success rate. Vanjani has a 5.3% average return when recommending OPK, and is ranked #475 out of 3367 analysts.

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