Barrington Thinks Opko Health’s Stock is Going to Recover

By Jason Carr

Barrington analyst Michael Petusky maintained a Buy rating on Opko Health (OPKResearch Report) today and set a price target of $5. The company’s shares closed yesterday at $2.78, close to its 52-week low of $2.34.

Petusky observed:

“We are maintaining our OUTPERFORM investment rating on OPK shares but are reducing our 12-month price target to $5 from $7. Even given the reduced target, price appreciation potential remains at approximately 80%, hence our constructive rating. We arrive at our price target via a DCF methodology for its current commercial business plus the hGH-CTP program. We assign an additional $1 of value for the remainder of OPKO’s product pipeline.”

According to TipRanks.com, Petusky is a 4-star analyst with an average return of 5.8% and a 49.2% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and Merit Medical Systems.

Opko Health has an analyst consensus of Moderate Buy, with a price target consensus of $7.

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The company has a one-year high of $6.40 and a one-year low of $2.34. Currently, Opko Health has an average volume of 5.52M.

Based on the recent corporate insider activity of 100 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.

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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.