Company Update (NYSE:OPK): Opko Health Inc. Licensee TESARO Receives FDA Approval for VARUBI
Opko Health Inc. (NYSE:OPK) announced that the U.S. Food and Drug Administration (FDA) has approved VARUBI™ (rolapitant) in combination with other antiemetic agents in adults for the prevention of delayed nausea and vomiting associated with initial and repeat courses of emetogenic cancer chemotherapy, including, but not limited to, highly emetogenic chemotherapy.
“We are extremely happy that our partners at TESARO were able to successfully develop and obtain FDA approval for VARUBI. TESARO’s excellent management team is the ideal partner to successfully commercialize and reach VARUBI’s full commercial potential,” commented Phillip Frost, MD, OPKO’s Chairman and Chief Executive Officer. (Original Source)
Shares of Opko Health opened today at $11.24 and are currently trading down at $10.98. 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 $14.31 and its 200-day moving average is $15.03.
On the ratings front, Opko Health has been the subject of a number of recent research reports. In a report released today, Ladenburg Thalmann analyst Kevin Degeeter reiterated a Buy rating on OPK, with a price target of $20, which represents a potential upside of 78% from where the stock is currently trading. Separately, on May 12, Oppenheimer’s Rohit Vanjani maintained a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Kevin Degeeter and Rohit Vanjani have a total average return of 23.7% and 30.9% respectively. Degeeter has a success rate of 60.5% and is ranked #215 out of 3742 analysts, while Vanjani has a success rate of 68.2% and is ranked #18.
Opko Health Inc is a biopharmaceutical and diagnostics company. The Company is engaged in the research and development of pharmaceutical products and vaccines.