10 Most Shorted Stocks That Are Loved by Analysts

3. OPKO Health, Inc. (NASDAQ:OPK)

Short Interest Percentage: 26.47%

Average Share Price Target: $4.25

Share Price Upside: 237.30%

OPKO Health, Inc. (NASDAQ:OPK) is a diversified healthcare company that sells laboratory equipment, medicines, and raw materials for the biotechnology industry. A loss making firm, its revenue dropped by 14% annually in 2023 to sit at $863 million. The shares opened in 2023 by dropping by 43%, as investors were no doubt spooked by a convertible note offering that dilutes shareholder value. OPKO Health, Inc. (NASDAQ:OPK)’s revenue shrank by $774 million in 2022 over 2021 as well. However, all might not be lost for OPKO Health, Inc. (NASDAQ:OPK) as the stock gained 55% in the final weeks of March and start April after the firm made a slew of announcements. These included a positive concept trial in rats for a GLP-2 pill for treating short bowel syndrome. This market currently only has one competing treatment offered by the Japanese firm Takeda Pharmaceuticals, and OPKO Health, Inc. (NASDAQ:OPK)’s partnership can lead to the first of a kind treatment through a pill.

OPKO Health, Inc. (NASDAQ:OPK) is also currently working with Pfizer to sell a hormone treatment globally which could lead to higher revenue. In its latest earnings call, management commented on the deal and shared details for milestone payments:

Moving to our pharmaceutical segment, as you’ve heard, NGENLA has been launched in all major global markets, like Pfizer.

We believe this drug is well positioned for significant growth as long-acting growth hormone products become the global standard in treating growth hormone deficiency for children. The launch is progressing as expected with an increasing and significant percentage of patients shifting from daily to the long-acting once a week NGENLA product. In addition, we expect our partnership with Pfizer to expand with additional indications including growth hormone deficiency for adults and other pediatric applications. And combined, these approvals for these two indications will entitle OPKO to an additional $100 million in milestone payments.