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Opko Health
(NASDAQ:OPK)
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Rating:53Neutral
Price Target:
$1.50
▲(22.95% Upside)
Action:Reiterated
Date:08/17/26
The score is held back primarily by weak financial performance—ongoing losses, low margins, and substantial negative free cash flow—despite a strong TTM revenue rebound. Offsetting this, technicals are moderately constructive and the earnings call showed improved momentum with raised revenue guidance and solid cash, but valuation support is limited due to negative earnings and no indicated dividend yield.
Positive Factors
Pharmaceutical revenue growth
Strong pharmaceutical growth provides a durable revenue engine within OPKO’s diversified model. Higher international volumes and improved RAYALDEE gross-to-net dynamics could support recurring sales and help offset weakness in diagnostics.
Negative Factors
Persistent cash burn
Negative operating and free cash flow indicate that OPKO’s businesses are not yet self-funding. Continued cash burn could consume liquidity, increase reliance on financing and constrain investment capacity if revenue growth does not translate into better margins.
Read all positive and negative factors
Positive Factors
Negative Factors
Pharmaceutical revenue growth
Strong pharmaceutical growth provides a durable revenue engine within OPKO’s diversified model. Higher international volumes and improved RAYALDEE gross-to-net dynamics could support recurring sales and help offset weakness in diagnostics.
Read all positive factors
Opko Health (OPK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.11B
Dividend YieldN/A
Average Volume (3M)2.89M
Price to Earnings (P/E)―
Beta (1Y)0.59
Revenue Growth-11.46%
EPS Growth58.54%
CountryUS
Employees2,275
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.10
Shares Outstanding746,328,250
10 Day Avg. Volume2,946,169
30 Day Avg. Volume2,888,795
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.75
Price to Sales (P/S)1.56
P/FCF Ratio-4.96
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$3.00Price Target Upside145.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.24
Revenue Forecast (FY)$565.39M
Opko Health Business Overview & Revenue Model
Company Description
OPKO Health, Inc. operates as a healthcare enterprise with a dual focus on diagnostics and pharmaceuticals. Its operations span the United States, Ireland, Chile, Spain, Israel, Mexico, and other international markets. The company's Diagnostics di...
How the Company Makes Money
OPKO makes money mainly through (1) pharmaceutical product sales and (2) diagnostic and laboratory testing revenue. On the pharmaceutical side, the company generates revenue by selling prescription and other health products through its commercial ...
Opko Health Earnings Call Summary
Earnings Call Date:Jul 27, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed materially positive operational and financial momentum: substantial pipeline progress across ModeX and OPKO biologics, significant revenue growth in the Pharmaceutical segment, a stronger cash position (> $300M), improved consolidated results (much smaller net loss) and upgraded full-year revenue guidance. However, the company faces near-term headwinds including a year-over-year decline in diagnostics revenue tied to prior divestitures, elevated and persistent operating and R&D expenses, timing/reimbursement uncertainty for 4Kscore expansion, and clinical data/enrollment timing risks. Overall, the positive items (cash runway, pipeline advances, large revenue inflection items and much improved profitability metrics) outweigh the lowlights, but several execution and timing risks warrant monitoring.Positive Updates
Robust cash position and shareholder returns
Ended Q2 with over $300 million in cash, cash equivalents and restricted cash; repurchased 9.7 million shares for approximately $13 million during the quarter and have ~ $94 million remaining authorization to repurchase additional shares.
Negative Updates
Diagnostics revenue decline due to prior divestiture and test mix changes
Diagnostics revenue fell to $74.5 million in Q2 2026 from $101.1 million in Q2 2025 (≈ -26.3% year-over-year), primarily reflecting the September 2025 sale (Labcorp transaction) and shifting certain higher-priced/esoteric tests to partners.
Read all updates
Q2-2026 Updates
Positive
Negative
Robust cash position and shareholder returns
Ended Q2 with over $300 million in cash, cash equivalents and restricted cash; repurchased 9.7 million shares for approximately $13 million during the quarter and have ~ $94 million remaining authorization to repurchase additional shares.
Read all positive updates
Company Guidance
OPKO guided Q3 2026 revenue of $131–142 million, including services revenue of $75–78 million, pharmaceutical product revenue of $40–44 million and IP & other revenue of $16–20 million (including Pfizer profit share of $8–10 million); Q3 total costs and expenses are expected to be $180–190 million with R&D of $34–38 million (partially offset by $5–7 million in BARDA and other collaboration funding) and depreciation & amortization of ~ $22 million. For full-year 2026 the company raised revenue guidance to $560–585 million (services $296–306 million; pharma product $164–174 million; partner collaboration/other $100–105 million, including Pfizer profit share $34–37 million), lowered total costs & expenses to $710–740 million, plans R&D of $125–135 million (offset by $18–22 million of BARDA funding and Regeneron reimbursements) and expects depreciation & amortization of ~ $95 million. The company also reported a Q2 cash balance of over $300 million, repurchased 9.7 million shares for ~ $13 million in the quarter and has approximately $94 million in remaining share repurchase authorization.Opko Health Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 587.89M | 606.88M | 713.14M | 863.50M | 1.00B | 1.77B |
| Gross Profit | 182.14M | 128.05M | 311.03M | 318.13M | 288.22M | 581.52M |
| EBITDA | 46.47M | -41.30M | 135.28M | -65.52M | -270.81M | 83.57M |
| Net Income | -72.89M | -225.68M | -53.22M | -188.86M | -328.40M | -30.14M |
Balance Sheet | ||||||
| Total Assets | 1.83B | 1.93B | 2.20B | 2.01B | 2.17B | 2.40B |
| Cash, Cash Equivalents and Short-Term Investments | 300.76M | 369.07M | 431.94M | 95.88M | 153.19M | 134.71M |
| Total Debt | 392.26M | 433.60M | 504.44M | 326.56M | 305.55M | 254.75M |
| Total Liabilities | 645.29M | 663.99M | 834.76M | 622.48M | 605.61M | 714.59M |
| Stockholders Equity | 1.18B | 1.27B | 1.37B | 1.39B | 1.56B | 1.69B |
Cash Flow | ||||||
| Free Cash Flow | -134.02M | -190.82M | -208.50M | -44.47M | -119.77M | 6.18M |
| Operating Cash Flow | -123.38M | -178.54M | -183.49M | -28.20M | -95.19M | 38.34M |
| Investing Cash Flow | 206.34M | 230.30M | 352.21M | -18.20M | 91.04M | 35.95M |
| Financing Cash Flow | -52.73M | -118.06M | 184.17M | -11.30M | 22.97M | -10.35M |
Opko Health Technical Analysis
Positive
1.22
Price Trends
1.38
Positive
1.31
Positive
1.29
Positive
Market Momentum
0.04
Negative
64.16
Neutral
86.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OPK, the sentiment is Positive. The current price of 1.22 is below the 20-day moving average (MA) of 1.39, below the 50-day MA of 1.38, and below the 200-day MA of 1.29, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 64.16 is Neutral, neither overbought nor oversold. The STOCH value of 86.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OPK.
Opko Health Risk Analysis
Opko Health disclosed 54 risk factors in its most recent earnings report. Opko Health reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Opko Health Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $2.63B | 23.68 | 32.81% | ― | 34.41% | 90.73% | |
70 Outperform | $1.07B | -51.68 | -4.15% | ― | 3.18% | -100.37% | |
60 Neutral | $2.16B | -8.76 | -6.31% | ― | 11.19% | 50.58% | |
53 Neutral | $1.11B | -15.84 | -5.88% | ― | -11.46% | 58.54% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $548.93M | -7.02 | -7.87% | ― | 6.83% | -69.59% | |
42 Neutral | $305.12M | -2.61 | -32.59% | ― | -3.16% | 72.02% |
* Healthcare Sector Average
OPK
Opko Health
1.51
0.09
6.34%
MYGN
Myriad Genetics
3.12
-2.81
-47.39%
NEO
NeoGenomics
17.37
10.29
145.34%
CDNA
CareDx
50.96
37.67
283.45%
FLGT
Fulgent Genetics
19.81
-1.83
-8.46%
CSTL
Castle Biosciences
34.08
11.80
52.96%
Opko Health Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Opko Health Expands Royalty-Backed Long-Term Note Financing
Positive
Aug 14, 2026
On August 13, 2026, OPKO Health amended its existing note purchase agreement and issued an additional $125 million of senior secured notes maturing on July 17, 2044, bearing interest at 3‑month SOFR with a 4.0% floor plus 7.5%. The notes rem...
Executive/Board ChangesShareholder Meetings
Opko Health Shareholders Back Board, Equity and Auditors
Positive
Jun 18, 2026
On June 18, 2026, OPKO Health, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders elected all eleven nominees to the Board of Directors, including Chairman and CEO Phillip Frost, M.D., and several other long-standing directors. ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.