Raymond James Financial, Inc. Downgrades Organovo Holdings, Inc. (ONVO) to Market Perform

Organovo Holdings, Inc. (NASDAQ:ONVO) was downgraded by research analysts at Raymond James Financial, Inc. from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday. They presently have a $5.00 price objective on the stock. Raymond James Financial, Inc.’s price objective would suggest a potential upside of 224.68% from the company’s current price.

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Organovo Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $4.00 price target on shares of Organovo Holdings in a report on Thursday, July 27th. ValuEngine lowered shares of Organovo Holdings from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Organovo Holdings from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Organovo Holdings has an average rating of “Hold” and an average target price of $6.00.

Organovo Holdings (NASDAQ ONVO) opened at $1.54 on Friday. Organovo Holdings has a one year low of $1.32 and a one year high of $4.08.

Organovo Holdings (NASDAQ:ONVO) last posted its earnings results on Thursday, November 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Organovo Holdings had a negative net margin of 923.89% and a negative return on equity of 62.67%. The company had revenue of $1.36 million during the quarter, compared to analysts’ expectations of $1.38 million. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. equities analysts forecast that Organovo Holdings will post -0.37 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Organovo Holdings by 34.0% in the first quarter. Bank of America Corp DE now owns 35,311 shares of the company’s stock valued at $113,000 after purchasing an additional 8,967 shares in the last quarter. Voya Investment Management LLC grew its holdings in Organovo Holdings by 18.8% during the 2nd quarter. Voya Investment Management LLC now owns 52,032 shares of the company’s stock worth $137,000 after acquiring an additional 8,225 shares during the period. American International Group Inc. grew its holdings in Organovo Holdings by 7.9% during the 1st quarter. American International Group Inc. now owns 53,431 shares of the company’s stock worth $170,000 after acquiring an additional 3,920 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in Organovo Holdings by 15.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 68,487 shares of the company’s stock worth $218,000 after acquiring an additional 8,958 shares during the period. Finally, Tudor Investment Corp ET AL grew its holdings in Organovo Holdings by 141.7% during the 1st quarter. Tudor Investment Corp ET AL now owns 75,000 shares of the company’s stock worth $238,000 after acquiring an additional 43,965 shares during the period. 24.02% of the stock is owned by institutional investors and hedge funds.

About Organovo Holdings

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