H.C. Wainwright has reaffirmed a Buy rating on Opko Health (NASDAQ:OPK), maintaining a $3.00 price objective that the firm says reflects momentum in OPKO’s biologics partnerships. That price target represents nearly 146% upside relative to the cited current share price of $1.22 and sits within a wider analyst consensus that lists price targets ranging from $1.60 to $8.50, according to InvestingPro data.
Operationally, OPKO’s biologics arm has been active with its partner Entera Bio. OPKO Biologics expanded its collaboration with Entera to develop what is described as the first oral long-acting parathyroid hormone analog intended for hypoparathyroidism therapy. The program pairs OPKO’s long-acting PTH variants with Entera’s N-Tab oral peptide delivery technology.
Financial measures cited in the available data show a current ratio of 3.7, indicating that OPKO’s liquid assets exceed its short-term liabilities. At the same time, InvestingPro data notes the company is rapidly consuming cash, a dynamic that bears watching as the programs progress toward clinical and regulatory milestones.
Clinical progress within the partnered program is documented: the collaboration reported favorable pharmacodynamic and pharmacokinetic data in December 2025, and the partners plan to file an IND application with the U.S. Food and Drug Administration in late 2026. Ownership of this parathyroid program is split evenly, with OPKO and Entera each holding a 50% pro-rata interest.
Corporate governance and personnel movement are part of the partnership story. Steve Rubin, Executive Vice President of Administration and a director at OPKO, has joined the board of Entera. The companies describe this as the third program that combines Entera’s oral peptide N-Tab platform with OPKO’s protein chemistry capabilities.
Separately, OPKO intends to begin Phase 1 clinical trials for a subcutaneous injection formulation of oxyntomodulin (OXM), with data expected by the end of 2026. For the oral OXM program targeting metabolic and fibrotic disorders, the parties maintain a 60%/40% (OPKO/Entera) ownership structure.
Outside of OPKO, the report notes corporate developments at CollPlant Biotechnologies. CollPlant will hold its annual and extraordinary general meeting of shareholders on December 31, 2025, in Tel-Aviv at the offices of Goldfarb Gross Seligman & Co. Shareholders have been provided with a notice and proxy statement outlining the proposals to be voted on, along with instructions for voting in person or by proxy, and a proxy card has been made available for those who prefer to vote without attending.
Market coverage has been mixed. In addition to H.C. Wainwright’s Buy, JPMorgan has initiated coverage on Opko Health with a Neutral rating. JPMorgan’s initial assessment highlights OPKO’s clinical diagnostics business through BioReference Labs as well as therapeutics development via its ModeX subsidiary.
Summary
H.C. Wainwright reiterated a Buy on Opko Health with a $3.00 target, pointing to advances in biologics collaborations with Entera Bio and specified clinical timelines. The company’s balance-sheet ratio shows short-term liquidity but is accompanied by rapid cash burn. JPMorgan has initiated coverage with a Neutral view. CollPlant Biotechnologies scheduled a shareholder meeting for December 31, 2025.
Key points
- Analyst action - H.C. Wainwright reiterates Buy on OPK with a $3.00 price target, implying nearly 146% upside from $1.22; consensus targets range from $1.60 to $8.50.
- Partnership and clinical progress - OPKO Biologics expanded its collaboration with Entera Bio on an oral long-acting PTH analog; favorable PD/PK data were reported in December 2025 and an IND filing is planned for late 2026.
- Balance-sheet and ownership - OPKO shows a 3.7 current ratio, rapid cash consumption per InvestingPro data, and ownership splits of 50%/50% for the parathyroid program and 60%/40% (OPKO/Entera) for the oral OXM program.
Risks and uncertainties
- Cash burn - InvestingPro data indicate the company is quickly depleting cash, which could affect its ability to fund clinical programs without additional financing; this impacts investors and the therapeutics development sector.
- Clinical and regulatory timing - The IND filing is planned for late 2026 and Phase 1 OXM data are expected by the end of 2026, but those timelines are future milestones and carry inherent execution and regulatory risks for the biotech sector.
- Market and coverage divergence - Differing analyst opinions, exemplified by H.C. Wainwright's Buy and JPMorgan's Neutral initiation, reflect varying assessments that can influence investor perception and stock volatility in the healthcare and diagnostics sectors.