Organovo Holdings Inc (NASDAQ:ONVO) – Jefferies Group boosted their FY2018 earnings per share estimates for shares of Organovo in a note issued to investors on Tuesday. Jefferies Group analyst B. Couillard now anticipates that the medical research company will post earnings of ($0.33) per share for the year, up from their prior estimate of ($0.35). Jefferies Group also issued estimates for Organovo’s Q4 2018 earnings at ($0.07) EPS and FY2020 earnings at ($0.20) EPS.
A number of other equities research analysts have also recently weighed in on ONVO. Raymond James Financial cut Organovo from an “outperform” rating to a “market perform” rating and set a $5.00 price target on the stock. in a report on Friday, November 10th. Citigroup cut Organovo to a “market perform” rating in a report on Friday, November 10th. Zacks Investment Research cut Organovo from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $3.00 price target on shares of Organovo in a report on Thursday, November 16th. Two 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 stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.60.
Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Thursday, February 8th. The medical research company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The company had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $1.25 million. Organovo had a negative return on equity of 69.03% and a negative net margin of 881.93%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share.
A number of institutional investors have recently bought and sold shares of ONVO. Paloma Partners Management Co acquired a new position in Organovo in the fourth quarter worth approximately $130,000. Voya Investment Management LLC grew its position in Organovo by 18.8% in the second quarter. Voya Investment Management LLC now owns 52,032 shares of the medical research company’s stock worth $137,000 after buying an additional 8,225 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Organovo by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 82,408 shares of the medical research company’s stock worth $217,000 after buying an additional 7,098 shares during the last quarter. Alliancebernstein L.P. grew its position in Organovo by 27.4% in the second quarter. Alliancebernstein L.P. now owns 93,050 shares of the medical research company’s stock worth $245,000 after buying an additional 20,000 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Organovo in the fourth quarter worth approximately $269,000. Hedge funds and other institutional investors own 25.28% of the company’s stock.
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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