As one of the top forms of cancer found in men, Prostate cancer is just what Opko Health Inc. (NYSE:OPK) has been working so hard on to help reduce fatlities from. Today the company announced that a recent study has demonstrated that their 4Kscore test is able to reduce many uncomfortable prostate biopsies while also improving risk prediction for more aggressive forms of the cancer.
“The 4Kscore test is a useful tool in identifying men with a significant risk of having an aggressive form of prostate cancer, who are most likely to benefit from a prostate biopsy and selective treatment or intensive intervention, while avoiding biopsies in men who are at low risk for developing aggressive disease,” commented lead researcher Badrinath Konety, M.D., Dougherty Family Chair in Uro-Oncology and director of the Institute for Prostate and Urologic Cancers at the University of Minnesota. “Our findings suggest that PSA screening, when coupled with the 4Kscore test, can be made more specific, reduce biopsy complications and overtreatment, and be a more cost-effective solution for managing a patient’s prostate health.”
The study, which included 611 patients, has indicated thatthe 4Kscore test, which is a simply blood test, was able to reduce the total number of prostate biopsies on patients by 64.6%.
The stock is currently trading higher by 1.95% or $0.15 following the positive news, hitting $7.85 per share at the time of us publishing this article. About 49,722 shares traded hands. OPK has declined 54.22% since July 6, 2015 and is downtrending. It has underperformed the S&P500 by 45.35%.
From a total of 4 analysts covering Opko Health (NYSE:OPK) stock, 3 rate it a “Buy”, 0 a “Sell”, and 1 a “Hold”. This means that 75% of the ratings are positive. The highest target price is $22 while the lowest target price is $14.0. The mean of all analyst targets is $18.67 which is 137.83% above today’s ($7.85) stock price. Opko Health was the topic of 5 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. JP Morgan initiated shares on October 16 with a “Overweight” rating. Ladenburg Thalmann maintained OPK stock in a recent report from September 3 with a “Buy” rating. Finally, Zacks downgraded the stock to a “Buy” rating in a report they issued on an August 11.
The institutional sentiment increased to 2.23 in Q2 2015. It’s up 0.66, from 1.57 in 2015Q2. The ratio is positive, as 36 funds sold all their Opko Health Inc. shares they owned while 45 reduced their positions. 79 funds bought stakes while 102 increased their total positions. Institutions now own 98.63 million shares which is 19.01% more than the previous share count of 82.87 million in 2015Q2.
Tang Capital Management Llc holds 7.68% of its total portfolio in Opko Health Inc., equating to 2.48 million shares. Oracle Investment Management Inc owns 4.00 million shares representing 6.88% of their total US portfolio. Moreover, Rk Asset Management Llc has 6.74% of their total portfolio invested in the company, equating to 919,514 shares. The Israel-based Mivtachim The Workers Social Insurance Fund Ltd. (Under Special Management) has a total of 2.17% of their portfolio invested in the stock. Menora Mivtachim Holdings Ltd., a Israel-based fund reported 2.72 million shares owned.
Since March 4, 2015, the stock had 16 insider purchases, and 0 sales for a total of $6.40 million in net activity. Frost Phillip Md Et Al bought 31,800 shares worth $283,101. Logal Adam bought 1,000 shares worth $9,950.
OPKO Health, Inc. is a biopharmaceutical and diagnostics company. The company has a market cap of $4.19 billion. The Firm is involved in developing a range of solutions to diagnose, treat and prevent various conditions, including point-of-care tests, laboratory developed tests (LDTs), molecular diagnostics tests, and pharmaceuticals and vaccines. It currently has negative earnings. It operates in two divisions: pharmaceutical and diagnostics.