What the Biggest Investors Are Doing About Opko Health Stock's Dismal Performance
So far in 2017, Opko Health (NASDAQ: OPK) has lost roughly one-third of its market cap. The stock finished 2016 down 7% due to an end-of-year plunge.
Things aren't going well for multiple reasons. That big drop at the end of last year stemmed from disappointing results from a late-stage study of Opko's experimental long-acting human growth hormone product (hGH-CTP) in adults. The company's 2015 acquisition of Bio-Reference Labs still doesn't appear to be paying off. The launch for its secondary hyperparathyroidism (SHPT) drug Rayaldee has been sluggish.
Around 17% of Opko Health stock is owned by institutions and funds. With all of the company's woes, what are these big investors doing about Opko?
Source: Fool.com
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