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Cantor Fitzgerald Thinks Opko Health’s Stock is Going to Recover


In a report released today, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Opko Health (OPK), with a price target of $20. The company’s shares opened today at $3.09, close to its 52-week low of $2.66.

Chen said:

“. We reiterate our OW rating and 12-month price target of $20 for OPK shares post a mixed 3Q18 report where OPK missed FactSet consensus revenues, but beat FactSet consensus EPS estimates. We continue to think that the long-term sales and earnings potential of OPK’s business is underappreciated and that upward earnings revisions in 2019+ to levels not reflected in consensus expectations should drive the stock higher. We expect upward earnings revisions to come from the uptake of Rayaldee, commercialization of OPK’s branded drug pipeline, and BioReference sales growth and margin expansion.”

According to TipRanks.com, Chen is a 5-star analyst with an average return of 16.1% and a 44.2% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Opko Health with a $7 average price target.

See today’s analyst top recommended stocks >>

Based on Opko Health’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.2 million. In comparison, last year the company had a GAAP net loss of $46.44 million.

Based on the recent corporate insider activity of 95 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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