MIAMI, FL – Shares of Opko Health hit a 52-week high on Friday after another round of stock purchases by Chairman and CEO Dr.Phillip Frost.
After opening at $7.54, shares of the Miami-based pharmaceutical company (NYSE: OPK) closed at $7.83, up 3.9 percent. Over 4 million shares changed hands, which exceeded the average daily volume of 2.5 million shares, according to Yahoo! Finance.
The previous 52-week high was $7.59 on March 11. The 52-week low was $4 on Aug. 2.
Starting on Feb. 13, Frost has purchased shares of Opko on every business day since, according to Securities and Exchange Commission filings. His most recent purchase was for 32,700 shares on Thursday at prices from $7.50 to $7.57 each.
The last major announcement from Opko was the sale of its RNA interference research products to RXi Pharmaceuticals Corp. in exchange for stock and future payments.