OPK - Opko Health Stock Is Climbing: What's Going On? | Benzinga
Opko Health, Inc. (NASDAQ:OPK) shares are trading higher Thursday after the company announced a $100 million share repurchase program.
The Details:
Opko said it expects to fund the repurchase program from existing cash and cash equivalents, and future cash flows. The company had approximately 697 million shares outstanding as of June 30, 2024, and the new authorization represents approximately 10.1% of shares outstanding at the current stock price.
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“We believe OPKO’s shares are significantly undervalued and offer an attractive investment opportunity. Buying back shares supports our conviction in OPKO’s strategy as we continue to advance our pipeline in the clinic and streamline our diagnostic segment on a path to profitability,” ...