OPKO Health, Inc. (NASDAQ:OPK) is among the top gainers of the stock market today, skyrocketing 2.46% or (0.05 points) to $2.08 from its previous close of $2.03. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 2175685 contracts so far this session. OPK shares had a relatively better volume day versus average trading capacity of 5.09 million shares, but with a 0.36 billion float and a -2.87% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OPK stock indicates that the average analyst price target is $5 per share. This means the stock has a potential increase of 140.38% from where the OPK share price has been trading recently which is between $2 and $2.08. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $4.
The shorts are climbing into OPKO Health, Inc. (OPK) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in OPK shares. While short interest still represents only 24.16% of OPK’s float, the number of shares shorted have risen by 504992. The number of shares shorted advanced to 87047375 shares, up from 86542383 shares during the preceding fortnight. With average daily trading volumes at 4412254 shares, days to cover decreased to about 28.6883 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Aerobic Vaginitis (AV) Testing Now Available At BioReference Laboratories” and dated May 17, 2019.
During the recent trading session for OPKO Health, Inc. (NASDAQ:OPK), the company witnessed their stock drop by $-0.03 over a week and tumble down $-0.31 from the price 20 days ago. When compared to their established 52-week high of $6.4, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/17/18. The recent low of $1.92 stood for a -67.5% since 05/15/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.84 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for OPKO Health, Inc., the two-week RSI stands at 40.72. This figure suggests that OPK stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current OPK readings is similarly very revealing as it has a stochastic reading of 25.29% at this stage. This figure means that OPK share price today is being overbought.
Technical chart claims that OPKO Health, Inc. (OPK) would settle between $2.07/share to $2.12/share level. However, if the stock price goes below the $1.99 mark, then the market for OPKO Health, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.96 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan lowered their recommendation on shares of OPK from Neutral to Underweight in their opinion released on March 02. JP Morgan analysts have lowered their rating of OPKO Health, Inc. (NASDAQ:OPK) stock from Overweight to Neutral in a separate flash note issued to investors on September 14. Analysts at Standpoint Research are sticking to their Buy stance. However, on June 21, they lifted price target for these shares to $18 from $16.
OPK equity has an average rating of 1.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated OPKO Health, Inc. (NASDAQ:OPK) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, OPK stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 3.31 while for the average stock in the same group, the multiple is 6.59.
OPKO Health, Inc. (OPK)’s current-quarter revenues are projected to climb by nearly -15.09% to hit $223900, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -9.59% from $990290 to a noteworthy $895350. At the other end of the current quarter income statement, OPKO Health, Inc. is expected to see its adjusted earnings surge by roughly -175% to hit $-0.11 per share. For the fiscal year, OPK’s earnings are projected to climb by roughly -68% to hit $-0.42 per share.