OPKO Health
Runs BioReference diagnostics alongside Rayaldee and NGENLA economics.
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Profile
Operates a healthcare portfolio split between BioReference diagnostics and pharmaceuticals, including international drug operations, Rayaldee, NGENLA economics through Pfizer, and ModeX collaborations. Diagnostics is now concentrated in core New York and New Jersey testing plus 4Kscore, while pharmaceuticals depend on product sales, royalties, contract revenue, and partner-led R&D.
Runs two reportable segments: Pharmaceuticals and Diagnostics. Pharmaceuticals includes drug operations spanning Latin America, Europe, and Israel, Rayaldee sales, NGENLA royalty and profit-sharing economics with Pfizer, and pharmaceutical R&D. Diagnostics centers on BioReference clinical laboratory operations and point-of-care operations.
BioReference is narrower after the sale of selected oncology-related testing assets to Labcorp. Continuing diagnostics focus on core clinical testing in the New York and New Jersey region and the 4Kscore Test franchise, a prostate cancer biopsy decision tool built around blood markers and an algorithm.
Execution depends on reimbursement, test volume, Rayaldee demand, Pfizer-driven NGENLA economics, BARDA and other contract revenue, and ModeX collaboration progress. BioReference also operates under a Corporate Integrity Agreement tied to compliance governance and reporting.
Company facts
Key statistics
Year to date +16.9% · Average volume (30d) 4.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Apr 29, 2026 | Barrington Research | Downgrade | Outperform | Market Perform | |
| Oct 31, 2025 | Jefferies | Downgrade | Buy | Hold | |
| Oct 30, 2025 | Jefferies | Target | $1.60 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 27, 2026Q2 FY26 | −$0.08 | −$0.01 | +87.5% | $131.2M | $163.5M | +24.6% | +33.06% |
| Apr 28, 2026Q1 FY26 | −$0.07 | −$0.07 | 0.0% | $130.5M | $124.2M | −4.8% | −8.26% |
| Feb 26, 2026Q4 FY25 | −$0.07 | −$0.04 | +42.9% | $139.8M | $148.5M | +6.3% | 0.00% |
| Oct 29, 2025Q3 FY25 | −$0.02 | $0.03 | +250.0% | $139.8M | $151.7M | +8.5% | +2.10% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $150.0M | $156.8M | $151.7M | $148.5M | $124.2M | $163.6M | |
| Gross profit | $22.8M | $30.0M | $30.4M | $45.0M | $26.8M | $80.0M | |
| Operating income | −$67.2M | −$60.0M | −$53.5M | −$38.3M | −$51.0M | −$7.0M | |
| Net income | −$67.6M | −$148.4M | $21.6M | −$31.3M | −$54.8M | −$8.4M | |
| Diluted EPS | −$0.10 | −$0.19 | $0.03 | −$0.04 | −$0.07 | −$0.01 | |
| Gross margin | 15.2% | 19.1% | 20.0% | 30.3% | 21.6% | 48.9% | |
| Operating margin | -44.8% | -38.3% | -35.3% | -25.8% | -41.1% | -4.3% |
Fiscal years (4-quarter sums)FY21 $1.77B · FY22 $1.00B · FY23 $863.5M · FY24 $713.1M · FY25 $606.9M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $300.8M · Total debt $392.3M · Total assets $1.83B · Shareholders' equity $1.18B
Dividends
No dividends on record.
Ownership
Shares outstanding 746.33M · Float 323.73M · 43.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Frost Phillip MD et al | 255.43M | 34.10% | 13D | Jul 1, 2026 |
| Rubric Capital Management LP | 47.79M | 6.40% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 36.98M | 4.95% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 14.97M | 2.01% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 14.93M | 2.00% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 20, 2026 | John A. Paganelli | director | +10,000 | $1.14 |
| Nov 21, 2025 | Phillip Md Et Al Frost | director, 10 percent owner, officer: CEO & Chairman | +580,000 | $1.33 |
| Nov 20, 2025 | Phillip Md Et Al Frost | director, 10 percent owner, officer: CEO & Chairman | +580,000 | $1.33 |
| Nov 19, 2025 | Phillip Md Et Al Frost | director, 10 percent owner, officer: CEO & Chairman | +580,000 | $1.31 |
| Nov 18, 2025 | Phillip Md Et Al Frost | director, 10 percent owner, officer: CEO & Chairman | +533,300 | $1.27 |
Peers
- Quest Diagnostics
Core lab scale rival in NY/NJ clinical testing
- Labcorp
Large lab rival with direct BioReference asset overlap
- MDxHealth
Urology diagnostics peer around prostate-risk tests
- Novo Nordisk (ADR)
Weekly growth-hormone rival through Sogroya
- Ascendis Pharma (ADR)
Weekly growth-hormone rival through Skytrofa
- Teva (ADR)
Broad generic-pharma peer for international product operations
- Amgen
Renal SHPT therapy peer through calcimimetic products
- Xencor
Engineered-antibody platform peer in multispecific R&D
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| OPKO Health | $1.46 | −1.68% | $1.10B | — | — | 1.9 | +4.3% |
| Quest Diagnostics | $244.50 | +0.69% | $26.79B | 25.8 | 21.2 | 2.3 | +10.2% |
| Labcorp | $333.00 | −0.68% | $27.48B | 27.7 | 17.7 | 1.9 | +5.8% |
| MDxHealth | $0.7000 | −2.87% | $37.0M | — | — | 0.5 | +2.3% |
| Novo Nordisk (ADR) | $45.60 | +0.00% | $202.54B | 11.2 | 18.4 | 4.0 | +0.0% |
| Ascendis Pharma (ADR) | $247.91 | 0.00% | $15.40B | 18.7 | 31.9 | 12.6 | +108.2% |
| Teva (ADR) | $36.30 | −0.36% | $42.44B | 60.7 | 12.9 | 2.5 | −0.8% |
| Amgen | $430.27 | −0.49% | $233.38B | 26.9 | 18.4 | 6.1 | +9.7% |
| Xencor | $26.05 | +0.07% | $1.93B | — | — | 18.4 | +17.5% |
| Median | 26.3 | 18.4 | 3.2 | +7.7% |