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Fly News Breaks for January 18, 2017
OPK, NTRA
Jan 18, 2017 | 08:00 EDT
Canaccord analyst Mark Massaro noted Natera (NTRA) sold off following its decision to terminate its contract with Bio Reference Labs (OPK) as well as President-elect Trump's comment that he will force the biotech and pharma industry to negotiate with the government on CMS prices. Although the contract absence is a near-term negative, the comments from Trump have nothing to do with Natera. As a result, Massaro believes the selloff in Natera shares is overdone. Massaro reiterated his Buy rating and $18 price target on Natera shares.
News For NTRA;OPK From the Last 2 Days
OPK
Mar 28, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
OPK
Mar 28, 2024 | 08:03 EDT
Labcorp (LH) and OPKO Health (OPK) announce that they have entered into an agreement for Labcorp to acquire select assets of BioReference Health, a wholly owned subsidiary of OPKO Health. Through this transaction, Labcorp will acquire BioReference Health's laboratory testing businesses focused on clinical diagnostics and reproductive and women's health across the United States outside of New York and New Jersey. This transaction includes patient service centers and certain customer contracts and operating assets. BioReference Health will continue to offer oncology and urology diagnostic services nationwide, as well as maintain its full operations in New York and New Jersey. When complete, the transaction is expected to provide patients, physicians and customers with greater access to Labcorp's comprehensive, high-quality laboratory services, scientific expertise and expanded testing capabilities in key regions across the country. The assets that Labcorp will be acquiring currently generate approximately $100M in annual revenue. The purchase price for the transaction is $237.5M. The proposed acquisition meets Labcorp's strategic and financial criteria. The transaction is subject to customary closing conditions and applicable regulatory approvals, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is anticipated to close in the second half of 2024.