Organovo Holdings Inc (NASDAQ:ONVO) has been assigned a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $3.60.
Several equities research analysts have weighed in on the stock. Citigroup lowered shares of Organovo to a “market perform” rating in a report on Friday, November 10th. Jefferies Group reiterated a “buy” rating and issued a $4.00 target price on shares of Organovo in a report on Thursday, September 14th. BTIG Research restated a “buy” rating and set a $3.00 price objective on shares of Organovo in a report on Thursday, November 16th. Raymond James Financial lowered shares of Organovo from an “outperform” rating to a “market perform” rating and set a $5.00 price objective on the stock. in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Organovo from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a report on Wednesday, October 11th.
Several large investors have recently modified their holdings of ONVO. Bank of America Corp DE raised its holdings in shares of Organovo by 34.0% during the first quarter. Bank of America Corp DE now owns 35,311 shares of the medical research company’s stock worth $113,000 after acquiring an additional 8,967 shares during the period. Voya Investment Management LLC raised its holdings in shares of Organovo by 18.8% during the second quarter. Voya Investment Management LLC now owns 52,032 shares of the medical research company’s stock worth $137,000 after acquiring an additional 8,225 shares during the period. State of Wisconsin Investment Board acquired a new stake in shares of Organovo during the second quarter worth $196,000. The Manufacturers Life Insurance Company raised its holdings in shares of Organovo by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 82,408 shares of the medical research company’s stock worth $217,000 after acquiring an additional 7,098 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Organovo by 15.0% during the first quarter. Metropolitan Life Insurance Co. NY now owns 68,487 shares of the medical research company’s stock worth $218,000 after acquiring an additional 8,958 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.
Shares of Organovo (NASDAQ ONVO) opened at $1.49 on Friday. Organovo has a twelve month low of $1.32 and a twelve month high of $3.95.
Organovo (NASDAQ:ONVO) last posted its earnings results on Thursday, November 9th. The medical research company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The company had revenue of $1.36 million for the quarter, compared to analyst estimates of $1.38 million. Organovo had a negative net margin of 923.89% and a negative return on equity of 65.63%. Organovo’s revenue for the quarter was down 1.4% on a year-over-year basis. equities analysts predict that Organovo will post -0.36 earnings per share for the current fiscal year.
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