H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Opko Health (OPK – Research Report) today and set a price target of $3.00.
Yi Chen has given his Buy rating due to a combination of factors including OPKO Health’s recent financial performance and strategic initiatives. The company reported a better-than-expected net income for the fourth quarter of 2024, primarily due to a significant gain from the sale of shares in GeneDx. This positive financial outcome, despite a decline in overall revenue, indicates effective cost management and strategic asset sales.
Additionally, OPKO Health’s subsidiary, ModeX Therapeutics, is making promising advancements in its vaccine development pipeline. The initiation of a Phase 1 trial for an Epstein-Barr virus vaccine, in collaboration with Merck, highlights the company’s potential in addressing unmet medical needs. Furthermore, ModeX has secured substantial funding from BARDA for the development of novel therapies, which could enhance OPKO Health’s future growth prospects. These strategic developments contribute to Yi Chen’s optimistic outlook on the company’s stock.
In another report released on February 28, Barrington also maintained a Buy rating on the stock with a $2.25 price target.