jumped 10% after the diagnostics company said that both the National Football League and the Centers for Disease Control and Prevention had signed contracts with Opko subsidiary BioReference Laboratories to conduct Covid-19 testing.
The NFL contract, confirmed Monday night by Opko executive chairman Jon Cohen on CNBC, covers all 32 of the league’s teams. CNBC reported that the league will require players to be tested twice for Covid-19 before entering club facilities. Team employees will also be tested. The league will not require antibody tests, though it will offer them.
On Tuesday, Opko (ticker: OPK) reported it had signed a contract with the CDC to offer antibody testing as part of an effort to help determine how widespread Covid-19 antibodies are in the population. The testing is set to last through November.
“Many studies suggest that the majority of the public has not been infected with COVID-19, but multiple factors limit these findings,” Cohen said in a statement on Tuesday. “Together with the leading public health authority, we are leveraging extensive depth and breadth of testing expertise to increase overall understanding of the disease burden of the virus.”
Shares of Opko Health are up 236% so far this year. Of the five analysts tracked by FactSet who cover the stock, four rate it at Buy, while one rates it at Hold.
Opko’s BioReference Laboratories has racked up a number of deals with professional sports leagues this month, including an agreement announced July 13 to test National Basketball Association players and employees for Covid-19. On July 9, the compaby said it would test Major League Soccer’s players and employees. The company also runs tests for the state of New Jersey, the city of Detroit, the city of Miami, and others.
Write to Josh Nathan-Kazis at firstname.lastname@example.org