Diversified healthcare company OPKO Health Inc. (OPK - Free Report) announced failure in its data analysis of the Phase 3 Clinical Study of hGH-CTP in Growth Hormone Deficient Adults. The study of hGH-CTP in adults with growth hormone deficiency demonstrated no statistical difference versus placebo.
In the last six months, the stock registered a negative return of almost 4.32%, wider than the Zacks categorized Medical Instruments sub-industry’s loss of 3.56% roughly. Average volume of shares traded over the last six months was remarkable, at approximately 5,201.6K. The stock has a market cap of $5.19 billion.
However, the estimate revision trend does not look promising with one estimate moving south over the past two months. Notably, the current fiscal estimate for the stock deteriorated by a penny to a loss of nine cents per share over the same time frame. Additionally, the stock promises an earnings yield of 3.97% compared with the industry’s yield of only 1.16%.
The aforementioned study was conducted on a multinational sample over multiple centers. It utilized a 2:1 randomization between hGH-CTP and placebo and enrolled 203 subjects. Of them, 198 received at least one dose of study treatment. The treatment was administered through a weekly injection. However, after 26 weeks, there was no statistical difference between hGH-CTP and placebo.
OPKO Health is a medical test and medication company focused on diagnostics and pharmaceuticals. The company develops treatments for secondary hyperparathyroidism. The company operates in the U.S., Chile, Israel, Mexico, Uruguay and Spain. Its diagnostics business consists of Bio-Reference Laboratories. Notably, Bio-Reference is the nation's third-largest clinical laboratory with a core genetic testing business and a 420-person sales force.
Zacks Rank & Key Picks
Currently, OPKO Health has a Zacks Rank #3 (Hold).
Better-ranked medical stocks are NxStage Medical Inc. (NXTM - Free Report) , Align Technology, Inc. (ALGN - Free Report) and Haemonetics Corporation (HAE - Free Report) . NxStage Medical and Align Technology sport a Zacks Rank #1 (Strong Buy) while Haemonetics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NxStage Medical gained 24.5% over the last one year compared with the S&P 500’s 11.2%. The company has a four-quarter average positive earnings surprise of 46.3%.
Align Technology rallied 49.6% over the last one year, way better than the S&P 500’s. It has a trailing four-quarter average positive earnings surprise of 23%.
Haemonetics recorded a 28.6% gain over the past one year, better than the S&P 500. It has a trailing four-quarter average positive earnings surprise of 0.82%.
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