Corporate Webpages Opko Health, Inc.
Opko Health Inc. is a pharmaceutical company that does a lot of
research in ophthalmic, oncology, neurology, and infectious
disease drugs, partnering with some big drug companies in some
instances. It gets a lot of research grants from various
organizations. Although it has been losing money consistently
year after year, and into the projected future, it does have a
viable revenue stream which gives value to the stock.
Any stock that is losing money is heavily penalized in our
Decision Matrix, making this stock a short sale candidate.
One of the main unusual features of this stock however, is
rather massive insider buying and an executive compensation
amount that is reasonable to miniscule. Institutions are also
heavy buyers in this stock. Researchers and rating agencies
have predictably turned thumbs down on the stock after strings
of losses, but two analysts following this stock give it a
strong buy 1.0 rating. They are looking at the revenue stream,
not the earnings. Significant revenues are coming from overseas
in places like Latin America where pharmaceutical selling is
done by the company.
The company has made some acquisitions. The money it pours into
research has eaten up any profits. The very strong insider
buying from its CEO has been a chief attractor, and the stock
has seen a lot of options action.
We were unable to detect any real news on the company of late
outside of the extreme insider buying. The CEO owns 40% of the
outstanding shares and bought 2,452,222 shares on October 4th at
$3.60 in a private sale. The company is burning an alarming
amount of cash, and stock has 29 price/sales, and 10.5 times book
value. This leaves it difficult to analyze what is going on
that is attracting both institutions and the CEO to make such
massive investments. Of course the major "institutional" holders have the name
"Frost" in them, which is also the name of the CEO. Since there is
so much unexplained, we conclude the company is a short sale candidate for sure. A
recent public offering brought in $100 million to the company
further diluting the value of shares. The company has
particular interests recently in a partnership in Mexico.
We weren't too thrilled with the company's website, but it does
have a chairman's letter which is worth reading. It says
virtually nothing about when or if the company will become
profitable but it does have valuable patented assets and an
active upcoming pipeline of new drugs.
12-04-2011: Opko Health, Inc. (OPK): Massive Insider Buying from the CEO
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
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Company Profile |
News |
Comparison |
Similar Companies Performance:
Bond Issue |
Zenith Index |
Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is consider strong and > 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.
Opko Health, Inc. (OPK ) Sector: Healthcare
4400 Biscayne Boulevard Industry: Medical Appliances & Equipmen
Miami, FL 33137 Exchange: NYSE
OPKO Health, Inc., a pharmaceutical and diagnostics company, engages in
the discovery, development, and commercialization of novel and proprietary
technologies primarily in the United States, Chile, and Mexico. It
provides a range of solutions, including molecular diagnostics tests,
proprietary pharmaceuticals, and vaccines to diagnose, treat, and prevent
neurological disorders, infectious diseases, oncology, and ophthalmologic
diseases. The company offers molecular diagnostic platform technology for
the rapid identification of molecules or immunobiomarkers; Alzheimer-Ęs
test for Alzheimer-Ęs diagnostic; and protein-based influenza vaccines to
provide multi-season and multi-strain protection against various influenza
virus strains, such as seasonal influenza strains, as well as global
influenza pandemic strains which include swine flu, and avian flu. It also
offers Oligonucleotide Therapeutics for the treatment of various
illnesses, including cancer, heart disease, metabolic disorders, and
genetic anomalies; and oligosaccharide for asthma and chronic obstructive
pulmonary diseases. In addition, the company provides Rolapitant, a potent
and antagonist; neurokinin-1, which has completed Phase II clinical trials
for prevention of chemotherapy induced nausea and vomiting, and
post-operative induced nausea and vomiting; and SCH 900978 that has
completed Phase II clinical trials for chronic cough. Further, it offers
bevasiranib, a drug candidate for the treatment of Wet AMD; and develops
Aquashunt, a shunt to be used in the treatment of glaucoma. Additionally,
the company involves in the development, commercialization, and sale of
ophthalmic diagnostic and imaging systems, and instrumentation products.
OPKO Health, Inc. was founded in 2006 and is headquartered in Miami,
Florida.
Last Trade: 5.10 52-Week Range: 5.85 - 3.06
Trade Date: 12-03 Avg. Volume: 1,830,050 Shares
Index Membership: Employees: 220
Corporate Governance:
Audit (Medium Concern), Board (High Concern), Compensation
(Low Concern), Shareholder Rights (Low Concern).
EPS: -0.08 Dividend Amount: $ 0.00 Yield: 0.00%
Ex-Dividend Date: N/A Mkt Cap: $ 1,460,000K
Payout Ratio: 0.00%
Last Split Factor (new for old): N/A Split Date: N/A
Key Statistics:
Enterprise Value: $ 1,380,000K Revenue (ttm) : $ 42,800K
Gross Profit: $ 16,380K
Earnings before Income Tax, Depreciation and Amortization: $ -15,050K
Enterprise Value/Revenue (ttm): 32.29 Revenue per Share: $ 0.16
Enterprise Value/EBITDA (ttm): -91.84 Qtrly Rev Growth (y to y): 19.90%
P/E Ratio (fwd projected): 0.00 P/E Ratio (current): 0.00
P/E Growth Ratio (5 yr expected): 0.00 Operating Margin: -46.88%
Price/Sales Ratio: 34.04 Profit Margin: -47.56%
Price/Book Value: 14.21 Book Value: $ 0.36/sh.
Return on Assets: -11.46% Net Income Avl to Common: $ -24,490K
Return on Equity: -25.14% Diluted Earnings/Share: $ -0.08
Qrtly Earnings Growth (yoy): 0.00%
Balance Sheet Items : Cash Flow Items (ttm):
(most recent qrtr) (trailing 12 mo.)
Total Cash: $ 87,420K Operating Cash Flow:$ -13,750K
Total Debt: $ 12,550K Lvgd Free Cash Flow:$ -5,610K
Total Debt/Equity: 9.76
Total Cash/Share: $ 0.31
Current Ratio: 5.81
Share Statistics: Stock Price History:
Shares Outstanding: 285,700K Stk 52-Week Change: 61.90%
Float: 132,270K S&P 500 52-Wk Chng: 1.73%
Sh. Short % of Float: 9.80% 50-Day Moving Avg: 5.20
Short Ratio: 7.30 200-Day Moving Avg: 4.30
% Held by Institutions: 8.00% Beta: 1.16
% Held by Insiders: 54.36%
Analysts' Estimates: Cur. Qtr Next Qtr Cur. Year Next Year
___________________________ Sep 11 Dec 11 Dec 11 Dec 12
Average Earnings Estimate -0.02 -0.05 -0.12 -0.14
Average Revenue Estimate 1M 16M 40M 35M
Factors Comparing This Company to Its Industry Leader (1.0 = Average):
Long Term EPS Growth Rate (5 yr): 0.000 EPS Growth (Qrtly YoY): 0.000
PEG Ratio (ttm, 5 yr expected): 0.000 P/E Ratio (ttm): 0.000
Revenue Growth (Qrtly YoY): 4.810
Annual Income Statements: All numbers in thousands)
Period Ending Dec31,2010 Dec31,2009 Dec31,2008
Total Revenue 36,880 13,147 9,440
Cost of Revenue 20,501 9,567 8,559
Gross Profit 16,379 3,580 881
Operating Expenses:
Research & Development 7,908 12,881 21,562
Selling, General & Administrative 25,700 16,719 16,484
Non-Recurring Expenses 0 2,000 1,398
Other Operating Expenses 0 0 0
Total Operating Expenses 0 0 0
Operating Income or Loss -17,229 -28,020 -38,563
Income from Continuing Operations:
Total Other Income/Expenses Net -842 -2,034 -1,354
Earnings Before Interest & Taxes -18,071 -30,054 -39,917
Interest Expense 0 0 0
Income Before Taxes -18,071 -30,054 -39,917
Income Tax Expense 141 -294 -83
Minority Interest 0 0 0
Net Income from Continuing Op.s -18,926 -30,113 -39,834
Non-recurring Events:
Discontinued Operations 0 0 0
Extraordinary Items 0 0 0
Effect of Accounting Changes 0 0 0
Other Items 0 0 0
Net Income -18,926 -30,113 -39,834
Preferred Stock & Other Adjustmnts -2,624 -4,718 -217
Net Income Avail To Common Shares -21,550 -34,831 -40,051
Quarterly Income Statements: All numbers in thousands)
Period Ending Sep30,2011 Jun30,2011 Mar31,2011 Dec31,2010
Total Revenue 3,395 10,142 8,648 20,618
Cost of Revenue 1,251 6,211 5,623 10,356
Gross Profit 2,144 3,931 3,025 10,262
Operating Expenses:
Research & Development 2,298 3,154 1,645 4,274
Selling, General & Adminis. 4,312 5,939 6,466 11,340
Non-Recurring Expenses 0 0 0 0
Other Operating Expenses 0 0 0 0
Total Operating Expenses 0 0 0 0
Operating Income or Loss -4,466 -5,162 -5,086 -5,352
Income from Continuing Operations:
Total Other Income/Expenses Net -656 -139 38 205
Earnings Before Int. & Taxes -5,122 -5,301 -5,048 -5,147
Interest Expense 0 0 0 0
Income Before Taxes -5,122 -5,301 -5,048 -5,147
Income Tax Expense -28 -6 233 -43
Minority Interest 0 0 0 0
Net Income from Continuing Op.s -5,395 -5,746 -5,704 -5,135
Non-recurring Events:
Discontinued Operations -2,841 0 0 4,462
Extraordinary Items 0 0 0 0
Effect of Accounting Changes 0 0 0 0
Other Items 0 0 0 0
Net Income -8,236 -5,746 -5,704 -673
Preferred Stock & Other Adj.s -600 -615 -645 -645
Net Income Avail To Common Shs -8,836 -6,361 -6,349 -1,318
Annual Balance Sheets: All Numbers in Thousands
Period Ending Dec31,2010 Dec31,2009 Dec31,2008
Current Assets:
Cash & Cash Equivalents 18,016 42,658 6,678
Short Term Investments 0 0 0
Net Receivables 13,317 8,767 1,148
Inventory 19,957 10,520 4,063
Other Current Assets 2,782 1,873 1,577
Total Current Assets 54,072 63,818 13,466
Long-Term Investments 5,114 4,447 0
Property, Plant & Equipt 2,729 593 659
Goodwill 5,856 5,408 1,097
Intangible Assets 9,964 12,722 6,336
Accumulated Amortization 0 0 0
Other Assets 111 442 206
Deferred Long Term Asset Charges 0 0 0
Total Assets 77,846 87,430 21,764
Current Liabilities:
Accounts Payable 12,909 8,702 7,615
Short/Current Long Term Debt 14,690 4,321 97
Other Current Liabilities 0 0 0
Total Current Liabilities 27,599 13,023 7,712
Long Term Debt 1,067 13,271 11,867
Other Liabilities 0 3,409 1,826
Deferred LT Liability Charges 0 0 0
Minority Interest 0 0 0
Negative Goodwill 0 0 0
Total Liabilities 28,666 29,703 21,405
Stockholder Equity:
Misc. Stocks Options Warrants 26,128 26,128 0
Redeemable Perferred Stock 0 0 0
Preferred Stock 9 10 10
Common Stock 2,554 2,538 1,991
Retained Earnings -358,379 -339,229 -309,116
Treasury Stock -61 -61 -24
Capital Surplus 376,008 367,028 307,498
Other Stockholder Equity 2,921 1,313 0
Total Stockholder Equity 23,052 31,599 359
Net Tangible Assets 7,232 13,469 -7,074
Quarterly Balance Sheets: All Numbers in Thousands
Period Ending Sep30,2011 Jun30,2011 Mar31,2011 Dec31,2010
Current Assets:
Cash & Cash Equivalents 47,235 38,849 47,879 18,016
Short Term Investments 40,182 54,998 59,983 0
Net Receivables 12,688 15,528 14,001 13,317
Inventory 10,516 16,326 18,137 19,957
Other Current Assets 7,008 1,927 2,785 2,782
Total Current Assets 117,629 127,628 142,785 54,072
Long-Term Investments 5,862 4,240 4,691 5,114
Property, Plant & Equipt 3,271 3,093 2,771 2,729
Goodwill 6,234 6,853 6,672 5,856
Intangible Assets 14,252 18,545 19,355 9,964
Accumulated Amortization 0 0 0 0
Other Assets 3,753 60 33 111
Deferred LT Asset Charges 0 0 0 0
Total Assets 151,001 160,419 176,307 77,846
Current Liabilities:
Accounts Payable 6,234 6,923 10,131 12,909
Current Portion LT Debt 12,547 14,604 14,552 14,690
Other Current Liabilities 1,460 0 0 0
Total Current Liabilities 20,241 21,527 24,683 27,599
Long Term Debt 0 0 0 1,067
Other Liabilities 2,154 1,600 1,883 0
Deferred LT Liab. Charges 0 0 0 0
Minority Interest 0 0 0 0
Negative Goodwill 0 0 0 0
Total Liabilities 22,395 23,127 26,566 28,666
Stockholder Equity:
Misc. Options, WarrantS 26,128 26,128 26,128 26,128
Redeemable Perferred Stock 0 0 0 0
Preferred Stock 0 0 7 9
Common Stock 2,881 2,879 2,850 2,554
Retained Earnings -378,125 -369,889 -364,128 -358,379
Treasury Stock -7,893 -7,893 -61 -61
Capital Surplus 485,181 482,910 482,521 376,008
Other Stockholder Equity 434 3,157 2,424 2,921
Total Stockholder Equity 102,478 111,164 123,613 23,052
Net Tangible Assets 81,992 85,766 97,586 7,232
Annual Cash Flow: All Numbers in Thousands
Period Ending Dec31,2010 Dec31,2009 Dec31,2008
Net Income -18,926 -5,746 -39,834
Operating Activites:
Depreciation 3,936 2,480 2,013
Adjustments to Net Income 7,033 8,422 8,735
Changes in Accounts Recv'bls -3,396 -1,271 590
Changes in Liabilities -1,466 -2,081 1,281
Changes in Inventories -7,589 -928 -2,104
Changes in Other Op'ing Actv's 0 155 25
Total Cash Flow fr Operations -19,094 -23,336 -29,294
Investing Activities:
Capital Expenditures -807 -172 -378
Investments -650 -4,800 0
Other Cash Flows fr Investing 0 -17,632 48
Total Cash Flows fr Investing -2,780 -22,604 -330
Financing Acitivies:
Dividends Paid 0 0 0
Sale or Purchase of Stock 74 81,708 15,383
Net Borrowings -2,842 212 -2,825
Other Cash Flows fr Financing 0 0 371
Total Cash Flows fr Financing -2,768 81,920 12,929
Effect of Exchange Rate Change 0 0 0
Change in Cash & Cash Equiv.s -24,642 35,980 -16,695
Quarterly Cash Flow: All Numbers in Thousands
Period Ending Sep30,2011 Jun30,2011 Mar31,2011 Dec31,2010
Net Income -8,236 -5,746 -5,704 -673
Operating Activites:
Depreciation 776 1,085 999 1,976
Adjustments to Net Income 2,436 2,616 2,267 2,525
Changes in Accounts Recv'bls -449 -1,476 -598 -549
Changes in Liabilities 2,351 -2,410 -2,741 893
Changes in Inventories 863 1,826 1,391 -4,034
Changes in Other Oper'g Acts 0 224 -299 1,559
Total Cash Flow f Operations -3,346 -3,881 -4,685 -1,838
Investing Activities:
Capital Expenditures -707 -434 -108 -206
Investments 12,807 4,984 -59,983 -650
Other Cash Flows fr Investing 0 0 -10,538 29
Total Cash Flows fr Investing 12,100 4,550 -70,629 -827
Financing Acitivies:
Dividends Paid 0 0 0 0
Sale or Purchase of Stock 466 -9,451 104,963 48
Net Borrowings -612 -293 200 5,556
Other Cash Flows fr Financing 0 0 0 0
Total Cash Flows fr Financing -146 -9,744 105,163 5,604
Effect of Exchange Rate Chg 0 0 0 45
Change in Cash & Cash Equiv. 8,386 -9,030 29,863 2,839
OPK Opko Health, Inc. [Indices near +3.0 or near zero,
or < zero bear special attention.]
P/E Ratio Tests:
Current P/E Ratio < 28? 0.0000 P/E Ratio > 5? 0.0000
P/E Ratio Vs Growth Rate: -2.0000 Forward P/E Ratio < 28? 0.0000
Sales Tests:
Price/Sales Ratio < 2.3? 0.0676 Inventory/Sales < 5%? 0.0924
Sales < $1 billion? 3.0000 Operating Margin < 7.5%? -0.1600
Balance Sheet Tests:
Debt/Equity < 0.40? 0.0410 Long-Term Debt Service: 3.0000
LTD Being Reduced? 1.2000 Short-Term Debt Service: 3.0000
Current Ratio > 2? 2.9050 Working Capital >= 1.5? 0.3441
Leverage Ratio < 20%? 3.0000 Debt / Assets < 1? 3.0000
Quick Ratio > 1? 2.9605 Inventory Turnover > 1? 1.5909
Shares Out Decreasing? 1.2000 Market Cap.> 1.5 Billion? 1.0274
Profit Margin > 7.5%? -3.0000
Income Tests:
Dividend Yield > 2.0%? 0.0000 EPS Annual Growth > 10%? -3.0000
Enterprise Value/Revenue: 3.0000 EPS 5-yr Growth > 20%? 0.0000
Enterprise Value/EBITDA: -3.0000 EPS Growth Consistent? 1.2000
EPS Qrtly Growth > 10%? 0.0000 Collection < 45 days? 0.3414
Rev. Qtrly Growth > 15%? 2.9850 Gross Pft/Cur. LTD < 1? 0.6014
EPS Annual Growth > 10%? -3.0000 Borrowing Int. Rate< 6%? 1.0000
Stock Performance Tests:
Volatility > 25%? 2.5051 % Held by Insiders < 5%? 0.0920
Beta > 1.25? 0.9280 % Held by Institut. < 50? 3.0000
50 Da MA > 200 Da MA? 0.5294 % Held by Institut. > 30? 0.2667
52-Wk Change vs. S&P 500: 0.1153 Short Ratio > 5? 1.4600
Price/Book Value < 3? -3.0000 Short % of Float > 20? 0.4900
Return on Assets > 17%? -0.6741 Average Volume > 100,000? 3.0000
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: -2.4510 Positive Free Cash Flow? 0.0000
Positive Oper. Cash Flow? 0.0000 Price to C.F./sh. Ratio: -3.0000
Cash Flow / Assets >.10? -0.3715
OPK Opko Health, Inc. Overall Zenith Index: 0.5599
Financial Statements |
Income Statement:
Balance Sheet:
Cash Flow Statement:
Financial Ratios |
. . . . . . . . . . . . 1 = Highest , 10 = Lowest
Market Grader |
Intrinsic Value (DCF) |
Intrinsic Value by Discounted Cash Flow Method:
Intrinsic Value (PEG) |
Intrinsic Value by Projected Earnings Growth Method:
Stock Scout |
We find "Scout" to be a bit biased toward the high end, so anything under a 6 is considered a negative, 6 and above, positive.
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Orders to Buy or Sell:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Stock Report |
Management's Discussion of Results of Operations Excerpts |
Moving Average Chart |
Right Time Study |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for OPKO Health Inc.:
Symbol? OPK
Total Months Available: 54
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
5.03 2.99 4.49 3.15 5.85 3.49
RANGE = 5.85 TO 2.99 Close = 5.10
CHANNEL = 4.49 TO 3.49 Degree = 3
Volatility = 19.61% Index = 5
Intraday Chart |
2 Days:
Stock Fetcher |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
The corresponding trades for the above chart are shown in tabular form below.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | - 1 |
| Comparison | + 1 |
| Industry | - 1 |
| Bond Issue | 0 |
| Zenith Index | - 1 |
| Non-GAAP vs. GAAP Earnings < 1% | + 1 |
| Cash Flow | - 1 |
| Ratios | - 1 |
| Market Grader | - 1 |
| Intrinsic Value DCF | - 1 |
| Intrinsic Value DDM | - 1 |
| Stock Scout | + 1 |
| Projected Earnings | - 1 |
| Research Reports | - 1 |
| Analysts | + 1 |
| Executive Perquisites | + 1 |
| Insider Activity | + 1 |
| Institutional Activity | + 1 |
| Management Reporting | + 1 |
| Short Interest | - 1 |
| Sentiment | + 1 |
| Standard & Poor's | - 1 |
| Moving Average | - 1 |
| Right Time Study | + 1 |
| Stock Fetcher | - 1 |
| Point & Figure | + 1 |
| Wall Street Analyzer | - 1 |
| Marketspace Chart | - 1 |
| Time Series Chart | + 1 |
| Neural Network | + 1 |
| Stock Options | + 1 |
| Ultimate Trading Systems | + 1 |
| Total | - 1 |
Place 5,780 shares of Opko Health, Inc. (OPK) on the Active List.
