Organovo Holdings, Inc. (ONVO) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Organovo Holdings, Inc. (NASDAQ:ONVO) has been assigned an average broker rating score of 1.33 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. Organovo Holdings’ rating score has declined by 6.4% from three months ago as a result of various analysts’ upgrades and downgrades.

Brokers have set a 1 year consensus price target of $4.50 for the company and are predicting that the company will post ($0.10) earnings per share for the current quarter, according to Zacks. Zacks has also given Organovo Holdings an industry rank of 166 out of 265 based on the ratings given to related companies.

Several research firms have recently weighed in on ONVO. Zacks Investment Research raised shares of Organovo Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $4.00 target price (down previously from $4.50) on shares of Organovo Holdings in a report on Thursday, June 8th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $3.75 target price (down previously from $4.00) on shares of Organovo Holdings in a report on Friday, June 9th.

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Hedge funds and other institutional investors have recently modified their holdings of the company. WFG Advisors LP increased its position in shares of Organovo Holdings by 138.6% in the fourth quarter. WFG Advisors LP now owns 4,772 shares of the company’s stock valued at $490,000 after buying an additional 2,772 shares during the period. Bessemer Group Inc. bought a new position in shares of Organovo Holdings during the fourth quarter valued at about $102,000. Tudor Investment Corp Et Al increased its position in shares of Organovo Holdings by 44.0% in the fourth quarter. Tudor Investment Corp Et Al now owns 31,035 shares of the company’s stock valued at $105,000 after buying an additional 9,482 shares during the period. Private Advisor Group LLC increased its position in shares of Organovo Holdings by 79.1% in the fourth quarter. Private Advisor Group LLC now owns 32,144 shares of the company’s stock valued at $118,000 after buying an additional 14,194 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its position in shares of Organovo Holdings by 191.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 35,000 shares of the company’s stock valued at $111,000 after buying an additional 23,000 shares during the period. Institutional investors and hedge funds own 23.89% of the company’s stock.

Shares of Organovo Holdings (NASDAQ:ONVO) traded down 0.76% during mid-day trading on Monday, reaching $2.61. 919,666 shares of the company traded hands. The stock’s 50 day moving average is $2.80 and its 200 day moving average is $3.14. Organovo Holdings has a 52-week low of $2.48 and a 52-week high of $4.99.

Organovo Holdings (NASDAQ:ONVO) last posted its earnings results on Wednesday, June 7th. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Organovo Holdings had a negative net margin of 908.91% and a negative return on equity of 63.92%. The business had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.76 million. The company’s revenue was up 700.0% on a year-over-year basis. Equities analysts expect that Organovo Holdings will post ($0.39) EPS for the current fiscal year.

Organovo Holdings Company Profile

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