Stock Market-- Bought OPK today
I liked this one when it was $4.50/share-- but didn't trust my judgement so I didn't buy it then. That was a mistake-- it moved up, traded in a range from about $6.50-$7.50 for a while.
1 Year Chart:
Today the market had a big drop, OPK also down. Looked oversold to me. So I bought a small amount at $6.18 today.
Here's a 5-day Chart:
Warning: this is a very high risk, very speculative play-- so I am not recommending it at this time!
Interesting company:
Business Summary Opko Health, Inc., a pharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies.
It operates in two segments, Pharmaceuticals and Diagnostics. The company is developing molecular diagnostics tests to identify molecules or immunobiomarkers for Alzheimers disease, non-small cell lung cancer, and pancreatic cancer, and other cancers; point-of-care diagnostic tests to detect prostate specific antigen; and laboratory developed tests comprising 4Kscore test for the detection of prostate cancer. It also operates OURLab, a full-service medical laboratory specializing in urologic pathology.
In addition, the company is developing CTAP101 Capsules to treat secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency; and Fermagate Tablets to treat hyperphosphatemia in end-stage renal disease patients on chronic hemodialysis. Further, it is developing oligonucleotide therapeutics, which are under pre-clinical studies for the treatment of various illnesses, such as cancer, heart disease, metabolic disorders, and genetic anomalies; heparin-derived oligosaccharide for asthma and chronic obstructive pulmonary diseases; influenza vaccines; alpha-galactosyl ceramide analogs for cancer, infectious disease, and autoimmune disease; and rolapitant, a NK-1 candidate that has completed Phase II clinical testing for the prevention of chemotherapy induced nausea and vomiting.
Additionally, the company develops and produces specialty active pharmaceutical ingredients; offers ophthalmic and other pharmaceutical products; and provides cardiovascular products, vaccines, antibiotics, gastro-intestinal products, and hormones. It operates in the United States, Chile, Mexico, Israel, and Spain. OPKO Health, Inc. is based in Miami, Florida. (Link)
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PSA tests for detection of Prostate Cancer are not reliable. If their 4Kscore turns out to be reliable this could be very big indeed. (But that's a very big if!)
Good fortune to ya Krish, this sounds like a great investment! Most every clinical lab I know of performs PSA tests,but understand that their reliability is suspect and areeagerly waiting for another test to take over.
Thanks for the tip!
:~)
I've read where there are plans to merge OKP with PROLOR. PROLOR trials with longer lasting HGH at phase III, looking good. HGH is about to get more negative with recent baseball news. Both have low RSI indicating over-sold. Tough call IMO. Good luck or break a leg, whichever you prefer. I'll watch it.
I haven't been folllowing OPK all that closely-- decided to buy it a while back, so I mainly have just been checking the price every so often looking for a pullback-- today looked like a good time to buy.
I had heard about the merger-- I believe it was announced only a few weeks ago. From everything I've read, both look like good companies with good potential.
So I like the company-- the main thng I'm wondering about is the current price, and how much downside risk there may be from here.
BTW, are you an actor?
They report on Aug 5th. Of course I could be wrong, but I'm expecting a good pop. (A good move up in price-- which may or may not be sustainable). One possible strategy-- for traders--buy under, say, $6.80 or lower, sell on the gap up (if it occurs!) after they report. Or--- for longterm investors-- buy on pullback-- at least just under $& or so.
And/or-- for a more conservative way to play this, and reduce your risk somewhat-- might be a good one tom sell covered calls on it, as appropriate.
Of course, it must be remembered that this is a highly speculative stock...not for the faint of heart!
When I bought it my original price target was $9.00. Its currently trading at $9.07, but I decided not to sell it today-- I think it still has more upside from here.
Here's a 5 day chart (the overall market is up quite a bit today-- a little overly optimistic IMHO. OPK, as a volatile small-cap, popped more than overall market. But I think that short term it could hit $10/share or so, regardless of anything that the buffoons in Washington do or do not do).
Often, when you take a few months off from excitement, things settle down and better opportunities emerge.
OPK seems in a sweet spot, having come down from a one-yearrun from 4 to about 13, in October,back to 8.63 (+.20)right now. It is forming a double bottom and this appears to be a low-risk entry point.