Top Analyst Pounds the Table on Opko Health Inc. (OPK)
Standpoint Research’s top analyst Ronnie Moas was out pounding the table on Opko Health Inc. (NASDAQ:OPK) Friday, reiterating a Buy rating and price target of $14.00, which implies an upside of 89% from current levels.
Moas wrote, “In our view, the market has overreacted to the December 29 news from OPK and to the news from March 1. Even though OPK has been underperforming recently, our view on this stock has not changed — aside from the fact that the timeline has been pushed out from 1H, 2017 to 2H, 2017.”
The analyst continued, “Regarding the news from December 29, the safety profile of hGH-CTP was consistent with that of daily injected growth hormone. There was an outlier subject in the placebo group who had embarked on a particularly strenuous exercise and weight loss program during the course of the trial that appears to have skewed results in the placebo group and OPK is working with Pfizer to resubmit paperwork on that.”
“The launch of RAYALDEE, the OPK drug to treat secondary hyper-parathyroidism and low vitamin D levels in phase 3 and for patients with chronic kidney disease, is going smoothly. OPK invested heavily in building a marketing and sales team and other infrastructure, and are very confident that this is going to turn out to be a significant product,” Moas added.
According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, 5-star analyst Ronnie Moas has a yearly average return of 5.8% and a 70% success rate. Moas has a -23% average return when recommending OPK, and is ranked #87 out of 4513 analysts.
Out of the 6 analysts polled in the past 12 months, 4 rate Opko Health stock a Buy, while 2 rate the stock a Hold. With a return potential of 80%, the stock’s consensus target price stands at $13.38.
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