JPMorgan Starts Opko Health (OPK) at Neutral

JPMorgan analyst Eric Joseph initiates coverage on Opko Health (NASDAQ: OPK) with a Neutral rating.

The analyst comments: "Following a series of asset sales and monetizing transactions, OPKO is closing in on the long-sought goal of becoming a self-funded biotech company, leveraging proceeds from diagnostics and generic pharma business units for its novel therapeutics pipeline. Core to this outlook is the multi-specific MSTAR biologics platform in-sourced through the 2022 merger with ModeX, featuring TCEs for solid tumor and B-cell cancers, and revenue-generating vaccine collaborations for EBV and COVID-19. However, given the early stage of the ModeX candidates (initial clinical safety readouts expected 2H25), a broader risk-off Biotech backdrop from macro uncertainty, and the Street’s preference for specialization within Healthcare, we believe it will take a series of clinical wins to gain broader investor recognition, with shares likely to trade range-bound over the mid-term."

For an analyst ratings summary and ratings history on Opko Health click here. For more ratings news on Opko Health click here.

Shares of Opko Health closed at $1.46 yesterday.

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