Phillip Frost, CEO and President of OPKO Health, Inc. (NASDAQ:OPK), increased its stake in the company by purchasing 500,000 common shares. According to InvestingPro data, this is consistent with broader management’s Buy rating on the stock, while analysts maintain a Strong Buy rating with price targets ranging from $2.00 to $8.50. The shares were acquired at a weighted average price of $1.4817 per share, for a total investment of approximately $740,850. The transactions occurred on January 15, 2025 and reflect Frost’s indirect ownership through the Frost Gamma Investments Trust. Following this purchase, Frost now indirectly holds a total of 213,036,477 shares. InvestingPro analysis shows that the stock is currently fairly valued, with a financial health rating of FAIR. Discover 8 more exclusive expert tips and comprehensive valuation metrics with InvestingPro’s detailed research report.
In other recent news, Opko Zdravlje (NASDAQ:) has been the subject of several significant developments. The company’s financial results for the third quarter of 2024 showed net income of $24.9 million, a significant improvement over the prior-year net loss, despite the decrease in revenue. In addition, Opko Health sold BioReference Health’s clinical diagnostics assets for $237.5 million and reported growth in its 4K prostate cancer score and oncology testing volume.
Furthermore, HC Wainwright analyst Yi Chen reaffirmed a Buy rating on shares of Opko Health, following the initiation of a Phase 1 trial for its Epstein-Barr virus (EBV) vaccine candidate, MDX2201, by its subsidiary, ModeX Therapeutics. The company’s cooperation with Merck (NS:) for this vaccine could lead to large payouts of up to $872.5 million.
Opko Health has also partnered with Pfizer (NYSE: ) at the launch of NGENLA, and repurchased 24 million shares as part of its share repurchase program. Despite the third-quarter revenue decline, the company expects future revenue for the fourth quarter of 2024 to be between $155 million and $160 million, with operating profitability expected by the end of the year. These recent developments underscore Opko Health’s strategic focus on profitability and growth.
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