By Ilene
Pharmboy thinks OPKO Health (OPK) is just a little unwell. OPKO’s CEO Philip Frost appears to agree and bought around $3M in OPK stock yesterday.
We wrote about OPKO Health (OPK) in Stock World Weekly on February 27. OPKO is specialty healthcare company involved in discovering, developing and commercializing pharmaceutical products, vaccines, medical devices, and diagnostic and imaging technologies. Its medical research is in areas of oncology, infectious diseases, and neurological disorders. Recently, insiders have been buying shares.
In Stock World Weekly, Pharmboy wrote, “With the recent pull back in the stock, it is time to consider an initial 1/4 round of shares under $4.50. Options are lightly traded, but the September $5 Puts seem to be a favorite, so selling a 1/4 entry ($1.20 or better) might be good for another round of stock if it gets put to you. This is a small cap stock, and no more than 3-5% of a portfolio should be dedicated to these types of companies.”
The small pullback Pharmboy noted at the end of February quickly turned into a larger pullback, and the stock closed on Wednesday March 9 at $3.59.
MIAMI–(BUSINESS WIRE)– OPKO Health, Inc. (NYSE Amex: OPK) today announced that it intends to offer and sell $100 million of its common stock in an underwritten public offering. The Company expects to grant the underwriters an option to purchase up to an additional $15 million of common stock offered to cover overallotments of shares, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Opko’s prospectus said that an offering of $4.74 a share – the closing price on March 1 – would require it to issue 21.1 million shares of common stock. The company did not finalize a price for the offering.
MIAMI–(BUSINESS WIRE)– OPKO Health, Inc. (NYSE Amex: OPK) today announced the pricing of an underwritten public offering of 27,000,000 shares of its common stock at a price to the public of $3.75 per share, before underwriting discounts and commissions. The Company also granted the underwriters a 30-day option to purchase up to an additional 4,050,000 shares of common stock. All of the shares are being offered by the Company. The offering is expected to close on or about March 14, 2011, subject to customary closing conditions.
Chart by Insider Cow, click on it to enlarge.