Barrington Sticks to Their Buy Rating for Opko Health (OPK)


In a report released today, Michael Petusky from Barrington maintained a Buy rating on Opko Health (OPK), with a price target of $7. The company’s shares opened today at $3.58.

Petusky said:

“We highly doubt that this decision will be reversed any time soon, even though we also believe in the value of the test based on experts we have heard weigh in on this issue. It is very disappointing news, but we think that OPKO will continue to have some near‐term opportunity to continue to educate commercial payors and perhaps get some “wins” in that realm. To date, OPKO has had some very modest success in getting traction for the product with commercial payors.”

According to TipRanks.com, Petusky is a 4-star analyst with an average return of 9.3% and a 53.8% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Varian Medical Systems, Merit Medical Systems, and DENTSPLY SIRONA Inc.

Opko Health has an analyst consensus of Moderate Buy, with a price target consensus of $13.50.

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Based on Opko Health’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $27.66 million. In comparison, last year the company had a GAAP net loss of $214 million.

Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OPK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

OPKO Health, Inc. engages in the provision of healthcare services. It operates through the Diagnostics and Pharmaceuticals segments. The Diagnostics segment comprises clinical laboratory operations which acquired through the Bio-Reference and point-of-care operations.

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