Organovo Holdings Inc (ONVO) Receives $3.94 Consensus Target Price from Brokerages
Shares of Organovo Holdings Inc (NASDAQ:ONVO) have been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.94.
A number of brokerages have issued reports on ONVO. Zacks Investment Research lowered Organovo from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. BTIG Research reiterated a “buy” rating and set a $3.00 price target on shares of Organovo in a research report on Thursday, November 16th. Citigroup lowered Organovo to a “market perform” rating in a research report on Friday, November 10th. Finally, Raymond James Financial lowered Organovo from an “outperform” rating to a “market perform” rating and set a $5.00 price target for the company. in a research report on Friday, November 10th.
A number of hedge funds have recently made changes to their positions in ONVO. Schwab Charles Investment Management Inc. boosted its position in Organovo by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 388,300 shares of the medical research company’s stock worth $1,022,000 after acquiring an additional 2,641 shares during the period. Alliancebernstein L.P. boosted its position in Organovo by 27.4% during the 2nd quarter. Alliancebernstein L.P. now owns 93,050 shares of the medical research company’s stock worth $245,000 after acquiring an additional 20,000 shares during the period. Teachers Advisors LLC boosted its position in Organovo by 40.9% during the 2nd quarter. Teachers Advisors LLC now owns 235,489 shares of the medical research company’s stock worth $619,000 after acquiring an additional 68,412 shares during the period. TIAA CREF Investment Management LLC boosted its position in Organovo by 13.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 290,163 shares of the medical research company’s stock worth $763,000 after acquiring an additional 34,298 shares during the period. Finally, Northern Trust Corp boosted its position in Organovo by 2.1% during the 2nd quarter. Northern Trust Corp now owns 1,199,998 shares of the medical research company’s stock worth $3,156,000 after acquiring an additional 24,408 shares during the period. Institutional investors own 25.28% of the company’s stock.
Organovo (NASDAQ:ONVO) last released its quarterly earnings data on Thursday, February 8th. The medical research company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $1.15 million during the quarter, compared to analyst estimates of $1.25 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. research analysts expect that Organovo will post -0.36 earnings per share for the current fiscal year.
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Organovo Company Profile
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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