OPKO Health's Valuation Reassessed Amid Share Price Movement and Diagnostics Refocus

OPKO Health's recent share price move to $1.34 has led to a reevaluation of its diagnostics and pharmaceutical businesses. The company's recent sale of BioReference's oncology assets to Labcorp is expected to sharpen its focus and drive cost savings, supporting its Diagnostics segment's transition to cash flow positive and profitability in 2025. However, ongoing net losses and share dilution could undercut the optimistic valuation narrative. The P/S ratio suggests that the market is already paying up for future progress, and the real question is whether the business can grow into that premium.