In a report on Wednesday, Zacks Investment Research has upgraded their rating of Organovo Holdings, Inc. (NASDAQ:$ONVO) from ‘Hold’ to ‘Buy’. Zacks’ price target of $2.25 would indicate the stock has a 44.24% upside.
In the report, Zacks said, “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. “
Multiple other firms have weighed in on the stock;
- BidaskClub: In a report on Tuesday, July 25th, BidaskClub lowered Organovo’s rating from a ‘Sell’ to a ‘Strong-Sell’.
- Jefferies Group LLC: In a report on Thursday, July 27th, restated a ‘Buy’ rating and set a target price of $4.00.
- ValuEngine: In a report on Friday, September 1st, ValuEngine dropped their rating from ‘Sell’ to ‘Strong-Sell’.
In total, the company has five ‘Buy’ ratings and two ‘Sell’ ratings.
During midday trading on Wednesday, Organovo traded up 4.00%, reaching $1.56, on a volume of 2,645,706 shares. They have a 50 day moving average of $2.04 and a 200 day moving average of $2.47. Their 52 week low is $1.46 and their 52 week high is $4.08. Their market cap currently sits at $165.55 million.
The company’s last earnings were reported on Wednesday, August 9th. For the quarter, the company reported -$0.10, which matched Zacks consensus estimates. Analysts predict that the company will post -$0.39 EPS for the current year. The company also had a revenue of $0.99 million, comparing favorably to the analysts’ forecasts of -$0.10. This represented an 11.1% year-over-year increase in quarterly revenue. They also reported a negative Return on Equity of 65.49% and a negative Net Margin of 918.97%.
Multiple institutes recently changed their stakes in the company as well;
- Nationwide Fund Advisors bought an additional 6,802 shares during the first quarter, an increase of 12.7%, for a total of 60,565 shares worth $193,000.
- American International Group Inc. bought an additional 3,920 shares during the first quarter, an increase of 7.9%, for a total of 53,431 shares worth $170,000.
- Voya Investment Management LLC bought an additional 8,225 shares during the second quarter, an increase of 18.8%, for a total of 52,032 shares worth $137,000.
- Bank of America Corp DE bought an additional 8,967 shares during the first quarter, an increase of 34.0%, for a total of 35,311 shares valued at $113,000.
- Edmond DE Rothschild holding S.A. bought an additional 23,000 shares during the first quarter, an increase of 191.7%, for a total of 35,000 shares worth $111,000.
Institutions and hedge funds currently own 23,94% of the company’s stock.
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