Zacks: Brokerages Expect Organovo Holdings Inc (ONVO) to Announce -$0.07 EPS

Equities research analysts expect that Organovo Holdings Inc (NASDAQ:ONVO) will announce earnings per share of ($0.07) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Organovo’s earnings. Organovo reported earnings per share of ($0.10) in the same quarter last year, which suggests a positive year over year growth rate of 30%. The business is scheduled to report its next quarterly earnings results on Wednesday, June 6th.

According to Zacks, analysts expect that Organovo will report full-year earnings of ($0.33) per share for the current fiscal year. For the next financial year, analysts anticipate that the business will post earnings of ($0.26) per share, with EPS estimates ranging from ($0.26) to ($0.25). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Organovo.

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Organovo (NASDAQ:ONVO) last announced its earnings results on Thursday, February 8th. The medical research company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $1.15 million during 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 company’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share.

A number of equities research analysts have issued reports on ONVO shares. Zacks Investment Research raised Organovo from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research report on Friday, February 16th. BTIG Research reaffirmed a “buy” rating and set a $3.00 target price on shares of Organovo in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $3.40.

Several hedge funds have recently modified their holdings of ONVO. TIAA CREF Investment Management LLC lifted its holdings in shares of Organovo by 13.4% during the second quarter. TIAA CREF Investment Management LLC now owns 290,163 shares of the medical research company’s stock worth $763,000 after buying an additional 34,298 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Organovo by 2.1% during the second quarter. Northern Trust Corp now owns 1,199,998 shares of the medical research company’s stock worth $3,156,000 after buying an additional 24,408 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Organovo by 5.2% during the second quarter. Vanguard Group Inc. now owns 4,470,182 shares of the medical research company’s stock worth $11,756,000 after buying an additional 220,165 shares during the last quarter. Ark Investment Management LLC lifted its holdings in shares of Organovo by 134.5% during the second quarter. Ark Investment Management LLC now owns 1,445,039 shares of the medical research company’s stock worth $3,800,000 after buying an additional 828,787 shares during the last quarter. Finally, Voya Investment Management LLC lifted 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 buying an additional 8,225 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Shares of Organovo (NASDAQ:ONVO) opened at $1.08 on Tuesday. The stock has a market capitalization of $118.60, a P/E ratio of -3.00 and a beta of 2.76. Organovo has a 12-month low of $0.93 and a 12-month high of $3.26.

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About Organovo

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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Earnings History and Estimates for Organovo (NASDAQ:ONVO)

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