Wall Street analysts expect Organovo Holdings Inc (NASDAQ:ONVO) to announce sales of $900,000.00 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Organovo’s earnings, with the lowest sales estimate coming in at $710,000.00 and the highest estimate coming in at $1.10 million. Organovo reported sales of $1.36 million in the same quarter last year, which indicates a negative year-over-year growth rate of 33.8%. The firm is scheduled to announce its next earnings results on Thursday, November 8th.
On average, analysts expect that Organovo will report full year sales of $3.67 million for the current fiscal year, with estimates ranging from $2.84 million to $4.50 million. For the next financial year, analysts anticipate that the company will post sales of $4.75 million, with estimates ranging from $3.30 million to $6.20 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Organovo.
Organovo (NASDAQ:ONVO) last issued its quarterly earnings results on Thursday, August 9th. The medical research company reported ($0.07) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The company had revenue of $0.69 million for the quarter, compared to the consensus estimate of $1.16 million. Organovo had a negative return on equity of 68.85% and a negative net margin of 746.56%.
ONVO has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1.75 price target on shares of Organovo in a research report on Friday, July 27th. Zacks Investment Research raised Organovo from a “sell” rating to a “hold” rating in a research report on Saturday, September 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $2.75.
Shares of NASDAQ ONVO opened at $1.12 on Monday. The company has a market capitalization of $130.47 million, a price-to-earnings ratio of -3.50 and a beta of 2.81. Organovo has a 12 month low of $0.91 and a 12 month high of $2.09.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. increased its position in shares of Organovo by 183.7% during the first quarter. First Republic Investment Management Inc. now owns 115,520 shares of the medical research company’s stock valued at $119,000 after purchasing an additional 74,800 shares during the period. LPL Financial LLC increased its position in shares of Organovo by 61.9% during the first quarter. LPL Financial LLC now owns 123,023 shares of the medical research company’s stock valued at $127,000 after purchasing an additional 47,042 shares during the period. UBS Group AG increased its position in shares of Organovo by 44.4% during the first quarter. UBS Group AG now owns 888,385 shares of the medical research company’s stock valued at $915,000 after purchasing an additional 273,029 shares during the period. Renaissance Technologies LLC increased its position in shares of Organovo by 179.2% during the second quarter. Renaissance Technologies LLC now owns 1,244,600 shares of the medical research company’s stock valued at $1,742,000 after purchasing an additional 798,800 shares during the period. Finally, BlackRock Inc. increased its position in shares of Organovo by 14.8% during the second quarter. BlackRock Inc. now owns 6,966,411 shares of the medical research company’s stock valued at $9,753,000 after purchasing an additional 897,113 shares during the period. Institutional investors and hedge funds own 33.34% of the company’s stock.
Organovo Company Profile
Organovo Holdings, Inc, a biotechnology company, provides therapeutic and drug profiling capabilities based on its 3D bioprint tissues that emulate human biology and diseases. Its 3D human tissue platform includes its proprietary NovoGen Bioprinters, which are automated devices that enable the fabrication of 3D living tissues comprised mammalian cells; and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture.
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