Opko Health (OPK) Bullish Stance Reiterated at Oppenheimer Amid Pfizer Deal

Oppenheimer analyst Rohit Vanjani reiterated an Outperform rating and $12 price target on Opko Health (NYSE: OPK) following the Pfizer deal for growth hormone.

Vanjani commented, "While OPKO will retain much of the responsibilities for developing hGH-CTP, the company will receive significant cash up front, significant regulatory milestones, and the ability to use Pfizer's marketing muscle to help adoption of hGH-CTP if and when the product is approved. Overall, we view the partnership as positive. Pfizer's involvement will help to de-risk the program as well as drive larger worldwide sales. We maintain our Outperform rating."

For an analyst ratings summary and ratings history on Opko Health click here. For more ratings news on Opko Health click here.

Shares of Opko Health closed at $8.86 yesterday.

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