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Analysts Drastically Reduced Target Price for Opko Health in March

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Mar. 27 2019, Updated 4:17 p.m. ET

Analysts’ recommendations and target price

Wall Street analysts expect an upside potential of 107.39% for Opko Health (OPK) based on the company’s closing price on March 26. In 2019, analysts revised downwards the company’s target price from $10.00 in January and February to $5.33 in March. The current consensus analyst recommendation for the stock is a “strong buy.”

Of the three analysts covering Opko Health, two are recommending a “strong buy,” and one analyst is recommending a “buy.” On March 26, Opko Health closed at $2.57, 1.98% higher than its previous closing price, 10.06% higher than its 52-week low of $2.34 and 59.84% lower than its 52-week high of $6.40. The company’s market capitalization is $1.70 billion.

Based on its closing price on March 26, Opko Health has reported returns of 2.39% in the last week, -9.51% in the last month, and 0.39% in the last quarter. The company has reported returns of -40.51% in the last half year, -27.20% in the last year, and -14.62% YTD.

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Recent stock price movements

In its fourth quarter, Opko Health reported revenues of $221.90 million, a YoY rise of 14.56% but lower than the consensus estimate by $23.37 million. The company reported non-GAAP EPS of -$0.13, which was lower than the consensus estimate by $0.04. After its fourth-quarter earnings announcement on February 27, the company’s share price declined to $2.78  from $2.83 on the previous day. The stock further slipped to $2.55 on February 28.

On March 21, Opko Health issued a press release announcing positive top-line results from the phase 2 trial evaluating investigational injectable therapy OPK88003 in the obesity and type 2 diabetes indication. Thereafter, the company’s stock price closed at $2.72 on March 21, 10.57% higher than its previous closing price.

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