Is OPKO Health Inc (NASDAQ:OPK) ready To Recover After The Recent Fall?

The previous week ended on a weak note for OPKO Health Inc (NASDAQ:OPK) as the stock slid by as much as 9% and today the company’s shareholders would be hoping for a quick recovery.

Last week the company announced its financial results for the quarter that ended on June 30, 2021 and that might have been one of the reasons behind the decline. In the second quarter, the company managed to bring in $397.2 million in the form of revenues from its diagnostics business and that reflects a major leap from the $251 million that it had generated in the prior year quarter.

On the other hand, the pharmaceutical business also produced improved year on year results. OPKO managed to generate as much as $35.7 million in revenues from its pharmaceutical business and that reflected considerable growth from the $29.3 million in revenues that it had generated in the prior year period.

The consolidated revenues for the period including all business division came in at $444.2 million. It reflected a massive improvement for OPKO considering the fact that in the same quarter in 2020 the company had brought in consolidated revenues of $301.2 million. It remains to be seen if the stock can bounce back today.