OPKO Health's Q2 revenue falls; proposes additional $100 mln share buyback

Overview

• OPKO Q2 revenue falls to $156.8 mln from $182.2 mln in 2024

• The biopharmaceutical and diagnostics company's net loss widens to $148.4 mln, impacted by $91.7 mln non-recurring expense

• Board authorizes additional $100 mln for stock repurchase program, bringing total capacity to $200 mln

Result Drivers

• PHARMACEUTICAL REVENUE - Stable at $40.7 mln due to higher sales volumes in international operations, offset by reduced sales in Chile

• DIAGNOSTICS REVENUE - Declined to $101.1 mln, primarily due to lower clinical test volume following asset sales

• R&D EXPENSES - Increased due to growth in BARDA collaborations and preparation for investigational new drug applications

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the healthcare facilities & services peer group is "buy."

• Wall Street's median 12-month price target for OPKO Health Inc is $3.00, about 55.3% above its July 30 closing price of $1.34

Press Release: ID:nGNX7lWqfG