Zacks Investment Research upgraded shares of Organovo (NASDAQ:ONVO) from a hold rating to a buy rating in a report published on Thursday morning. They currently have $1.25 price objective on the medical research company’s stock.
According to Zacks, “Organovo Holdings, Inc. is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications. Its NovoGen 3D printing technology is a platform that works across various tissue and cell types. Organovo Holdings, Inc. is based in San Diego, California. “
Several other research firms have also recently issued reports on ONVO. Raymond James Financial cut Organovo from an outperform rating to a market perform rating and set a $5.00 target price on the stock. in a research note on Friday, November 10th. Citigroup cut Organovo to a market perform rating in a research note on Friday, November 10th. Finally, BTIG Research reissued a buy rating and set a $3.00 target price on shares of Organovo in a research note on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Organovo has a consensus rating of Hold and an average target price of $3.40.
Organovo (NASDAQ:ONVO) last posted its earnings results on Thursday, February 8th. The medical research company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. Organovo had a negative return on equity of 69.03% and a negative net margin of 881.93%. The firm had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $1.25 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The business’s revenue was up .0% compared to the same quarter last year. equities analysts anticipate that Organovo will post -0.33 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Ark Investment Management LLC increased its stake in shares of Organovo by 134.5% during the second quarter. Ark Investment Management LLC now owns 1,445,039 shares of the medical research company’s stock valued at $3,800,000 after buying an additional 828,787 shares during the period. Vanguard Group Inc. grew its stake in Organovo by 5.2% in the second quarter. Vanguard Group Inc. now owns 4,470,182 shares of the medical research company’s stock worth $11,756,000 after purchasing an additional 220,165 shares during the period. ARK Investment Management LLC grew its stake in Organovo by 124.3% in the fourth quarter. ARK Investment Management LLC now owns 5,891,552 shares of the medical research company’s stock worth $7,895,000 after purchasing an additional 3,264,848 shares during the period. State Street Corp grew its stake in Organovo by 9.7% in the second quarter. State Street Corp now owns 1,697,994 shares of the medical research company’s stock worth $4,463,000 after purchasing an additional 150,837 shares during the period. Finally, Teachers Advisors LLC grew its stake in Organovo by 40.9% in the second quarter. Teachers Advisors LLC now owns 235,489 shares of the medical research company’s stock worth $619,000 after purchasing an additional 68,412 shares during the period. 27.24% of the stock is currently owned by hedge funds and other institutional investors.
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Organovo Holdings, Inc is an early commercial-stage company focused on developing and commercializing functional human tissues. The Company focuses on the generation of three-dimensional (3D) human tissues, by utilizing its platform technology to create human tissue constructs in 3D. It is focused on development of products, including 3D human tissues used for the preclinical assessment of drug effects, including applications in predictive toxicology, absorption, distribution, metabolism, excretion (ADME), and drug metabolism and pharmacokinetics (DMPK); customized human tissues as living, dynamic models of human biology or disease, for use in drug discovery and development, and three-dimensional human tissues for clinical applications, such as blood vessels for bypass grafting, nerve grafts for nerve damage repair and functional tissue patches for the repair or replacement of damaged tissues and organs.
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