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Opko Health Above $8.00 After Guggenheim Initiation

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Opko Health Inc. (NASDAQ: OPK) shares are trading higher by $0.29 (4.5 percent) at $8.21 in Tuesday's session. Before the open, Guggenheim initiated coverage with a Buy rating with a $25.00 price target.

That price target would exceed the issue's all-time high, which was made in June 2015 at $19.20.

After a higher open, Opko's stock retreated but found support just above Monday's close ($7.92), only reaching $7.95, but rebounded back into the $8.00 handle. At this time, the issue is attempting to fill a void in price action up to $8.29. That was the low for the day preceding its inline Q4 EPS report, but came up shy on revenues by $34.5 million.

Above that level, the pair of closes from February 28 ($8.39) and March 1 ($8.37) may provide for additional short-term resistance.

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