Figma Shares Indicated To Open $105/$110
Phillip Frost, CEO and Chairman of OPKO Health, Inc. (NASDAQ:OPK), recently acquired a significant number of shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Frost purchased 47,537 shares of OPKO Health common stock on January 28, 2025. The shares were bought at an average price of $1.4738, resulting in a total transaction value of approximately $70,060. According to InvestingPro data, this purchase aligns with broader management share buying activity, while the stock trades near its Fair Value despite showing a strong 52% return over the past year.
This purchase was executed through Frost Gamma Investments Trust, where Frost holds a trustee position. Following this transaction, Frost’s indirect ownership in OPKO Health stands at 213,234,014 shares. Additionally, Frost maintains direct ownership of 3,568,951 shares in the company.
Investors often monitor insider transactions like these for potential insights into the executive’s confidence in the company’s future performance.
In other recent news, Opko Health has shown a significant turnaround in its financial position despite facing external challenges. The company reported a net income of $24.9 million in Q3 2024, a substantial improvement from the previous year’s net loss, alongside a strong cash position of over $400 million. Furthermore, Opko Health’s collaboration with Merck (NSE:PROR) on an Epstein-Barr virus vaccine candidate, MDX2201, developed by its subsidiary ModeX Therapeutics, has commenced the Phase 1 trial, marking a significant step in addressing an unmet medical need.
H.C. Wainwright analyst Yi Chen reaffirmed a Buy rating on Opko Health, reflecting the potential market opportunity for MDX2201. Also, the company sold BioReference Health’s clinical diagnostics assets for $237.5 million and reported a 16% growth in the 4K score test for prostate cancer and a 6.8% increase in oncology testing volume.
In addition, Opko Health’s partnership with Pfizer (NYSE:PFE) on the launch of NGENLA is gaining market traction, and the company repurchased 24 million shares under its share buyback program. Despite a decrease in Q3 revenue to $121.3 million from $131.7 million in Q3 2023, future revenue projections for Q4 2024 are between $155 million and $160 million, with operational profitability anticipated by year’s end. These recent developments underscore Opko Health’s strategic focus on profitability and growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.