Company Update (NYSE:OPK): Opko Health Inc. and Bio-Reference Laboratories Inc Announce Early Termination of the Waiting Period for Planned Acquisition
Opko Health Inc. (NYSE:OPK) and Bio-Reference Laboratories, Inc. (NASDAQ:BRLI), today announced that early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) has been granted, effective July 1, 2015, for OPKO’s planned acquisition of Bio-Reference.
Expiration of the waiting period under the HSR Act satisfies one of the conditions necessary for the consummation of the merger. The transaction remains subject to other closing conditions, including the approval of Bio-Reference shareholders. The parties continue to expect that this transaction will close during the second half of 2015. (Original Source)
Shares of Opko Health opened today at $16.33 and are currently trading down at $16.17. OPK has a 1-year high of $19.20 and a 1-year low of $8.02. The stock’s 50-day moving average is $16.56 and its 200-day moving average is $13.90.
On the ratings front, Opko Health has been the subject of a number of recent research reports. In a report issued on May 12, Oppenheimer analyst Rohit Vanjani maintained a Hold rating on OPK. Separately, on March 26, Barrington Research’s Michael Petusky initiated coverage with a Buy rating on the stock and has a price target of $19.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Rohit Vanjani and Michael Petusky have a total average return of 38.7% and 7.5% respectively. Vanjani has a success rate of 77.8% and is ranked #14 out of 3688 analysts, while Petusky has a success rate of 68.8% and is ranked #1412.
Opko Health Inc is a biopharmaceutical and diagnostics company. The Company is engaged in the research and development of pharmaceutical products and vaccines.