OPK Climbs 12.4% in the Past Month: Can the Stock Rally Keep Going?

OPK's Past-Month Gain Meets Better Operating Leverage

Second-quarter operating loss narrowed to $7 million from $60 million a year earlier. Gross profit rose to $80 million from $49.4 million, while gross margin expanded to 48.9% from 31.5%.

BioReference also moved into the black, posting operating income of $4.8 million versus an $18.2 million loss a year earlier. The improvement followed lower service costs and an $18.1 million earnout gain tied to the oncology asset sale. Labcorp Holdings Inc. LH completed its acquisition of those select BioReference oncology and related clinical-testing assets in September 2025.

OPKO Health Gets More Help From Pharmaceuticals

Pharmaceutical revenues increased 59.8% year over year to $89 million. Product revenues rose 5.4% to $42.9 million, helped by higher volumes in Spain and Mexico and favorable foreign exchange, while Rayaldee revenues increased to $8.1 million from $7.2 million.

Intellectual-property and other revenues also increased sharply, including $29.4 million recognized from shares received under the amended Nicoya agreement. Pfizer Inc. PFE, which commercializes NGENLA, contributed a $6.4 million quarterly profit share, up from $6.1 million a year earlier.

Image Source: Zacks Investment Research

OPK's Pipeline Adds Multiple Late-2026 Catalysts

ModeX's MDX2001 Phase I program is expected to finish dose escalation and regimen optimization by the third or early fourth quarter of 2026. Early data are targeted for presentation in late 2026 or early 2027. BARDA-funded MDX2301 is also expected to produce early results in that window after Phase I enrollment wraps up.

The Merck-funded MDX2201 Epstein-Barr virus vaccine has completed Phase I, with analysis expected to inform Phase II design by year-end 2026. MDX3001, OPKO's in vivo CAR-T candidate, is in IND-enabling studies and is targeted to enter first-in-human testing in late 2026 or early 2027.

OPKO Health Still Faces Profitability and Execution Risk

The operating improvement has not eliminated the central risk. OPKO reported a second-quarter net loss of $8.4 million, while research and development expense increased 9.3% year over year to $33.2 million as several programs moved through early clinical work.

BioReference's restructuring also remains unfinished. Management is reducing costs and shifting selected low-value esoteric tests to partners, but broader 4Kscore adoption in primary care depends on Medicare policy changes. That reimbursement uncertainty could delay one of the retained diagnostics business's larger growth opportunities.

Image Source: Zacks Investment Research

OPK's Momentum Leads Its Mixed Style Profile

OPK's recent price action is its clearest near-term positive, but the broader setup is mixed. The stock currently carries a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for the current fiscal year's loss has improved over the past four weeks, while the stock's 12.4% four-week gain supports its Momentum Score of A. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

The other Style Scores are less favorable. OPK has a Growth Score of C, Value Score of F and VGM Score of C. Because Style Scores are designed to complement the Zacks Rank, the combination points to favorable momentum without the stronger across-the-board profile typically associated with top-ranked stocks carrying A or B scores. Continued operating gains and successful clinical execution could help sustain interest, but the present ratings support a measured view of the rally.

Research Chief Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research