Opko Health, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Michael Petusky from Barrington maintained a Buy rating on the stock and has a $2.25 price target.
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Michael Petusky has given his Buy rating due to a combination of factors that suggest OPKO Health is positioned for future growth. Despite the company’s Q2 revenue being slightly below expectations, there is notable progress in their lab segment, which is anticipated to achieve cash flow breakeven following the divestiture of oncology assets to Labcorp. This strategic move is expected to lead to further improvements in the company’s financial performance in the coming fiscal year.
Additionally, OPKO’s NGENLA product, although currently underperforming, shows promising prescription trends that could drive significant growth in the latter half of the year. Petusky maintains an optimistic outlook with an OUTPERFORM rating and a price target of $2.25, representing an 89% upside potential. This target is supported by a discounted cash flow analysis and reflects confidence in the company’s long-term development prospects.
Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics, Option Care Health, and DENTSPLY SIRONA. According to TipRanks, Petusky has an average return of 0.5% and a 43.06% success rate on recommended stocks.
In another report released on August 1, Piper Sandler also reiterated a Buy rating on the stock with a $3.00 price target.