Zacks Investment Research Upgrades OvaScience Inc. (OVAS) to Buy
OvaScience Inc. (NASDAQ:OVAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $1.50 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 6.38% from the company’s previous close.
According to Zacks, “OvaScience, Inc. is a life science company focused on the discovery, development and commercialization of new treatments for infertility. Its product includes Augment for the treatment of infertility and Ova Ture used in the creation of mature fertilizable eggs. Ova Science, Inc. is headquartered in Cambridge, Massachusetts. “
Separately, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of OvaScience in a research note on Thursday, June 22nd.
Shares of OvaScience (OVAS) opened at 1.41 on Wednesday. OvaScience has a 1-year low of $1.25 and a 1-year high of $7.92. The stock has a 50 day moving average price of $1.41 and a 200 day moving average price of $1.48. The firm’s market capitalization is $50.32 million.
OvaScience (NASDAQ:OVAS) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.45) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.02. The company had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.09 million. OvaScience had a negative return on equity of 69.13% and a negative net margin of 16,132.47%. OvaScience’s revenue was down 55.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.62) EPS. Equities research analysts anticipate that OvaScience will post ($1.67) earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. acquired a new position in shares of OvaScience in the first quarter worth approximately $107,000. GMT Capital Corp lifted its position in shares of OvaScience by 43.6% in the 1st quarter. GMT Capital Corp now owns 757,114 shares of the biotechnology company’s stock worth $1,416,000 after purchasing an additional 229,719 shares during the period. KCG Holdings Inc. acquired a new position in shares of OvaScience in the 1st quarter worth approximately $375,000. Sabby Management LLC boosted its stake in shares of OvaScience by 774.7% in the 1st quarter. Sabby Management LLC now owns 423,775 shares of the biotechnology company’s stock valued at $792,000 after purchasing an additional 375,325 shares during the last quarter. Finally, EcoR1 Capital LLC bought a new stake in shares of OvaScience in the 1st quarter valued at $6,568,000. Institutional investors own 56.28% of the company’s stock.
OvaScience Company Profile
OvaScience, Inc is a global fertility company. The Company is focused on the discovery, development and commercialization of fertility treatment options for women. The Company’s portfolio of fertility treatment options uses its technology, including methods to identify and isolate Egg precursor (EggPC) cells from a patient’s own ovarian tissue.
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