Organovo (NASDAQ:ONVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Organovo Holdings, Inc. is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications. Its NovoGen 3D printing technology is a platform that works across various tissue and cell types. Organovo Holdings, Inc. is based in San Diego, California. “

Several other analysts have also recently issued reports on the company. BTIG Research reiterated a “buy” rating and set a $3.00 target price on shares of Organovo in a research report on Thursday, November 16th. Citigroup cut Organovo to a “market perform” rating in a research report on Friday, November 10th. Raymond James Financial cut Organovo from an “outperform” rating to a “market perform” rating and set a $5.00 target price for the company. in a research report on Friday, November 10th. Jefferies Group reiterated a “buy” rating and set a $4.00 target price on shares of Organovo in a research report on Tuesday, September 26th. Finally, ValuEngine cut Organovo from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Organovo currently has a consensus rating of “Hold” and a consensus price target of $3.60.

Shares of Organovo (NASDAQ:ONVO) opened at $1.35 on Wednesday. Organovo has a 1 year low of $1.32 and a 1 year high of $3.92. The stock has a market capitalization of $145.42, a PE ratio of -3.55 and a beta of 3.06.

Organovo (NASDAQ:ONVO) last released its earnings results on Thursday, November 9th. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Organovo had a negative return on equity of 65.63% and a negative net margin of 923.89%. The firm had revenue of $1.36 million during the quarter, compared to analysts’ expectations of $1.38 million. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. analysts expect that Organovo will post -0.36 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONVO. Schwab Charles Investment Management Inc. grew its holdings in Organovo by 32.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 385,659 shares of the medical research company’s stock valued at $1,227,000 after buying an additional 95,177 shares in the last quarter. Bank of America Corp DE grew its holdings in Organovo by 34.0% during the 1st quarter. Bank of America Corp DE now owns 35,311 shares of the medical research company’s stock valued at $113,000 after buying an additional 8,967 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Organovo by 15.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 68,487 shares of the medical research company’s stock valued at $218,000 after buying an additional 8,958 shares in the last quarter. Rhumbline Advisers grew its holdings in Organovo by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 110,444 shares of the medical research company’s stock valued at $290,000 after buying an additional 4,640 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in Organovo during the 2nd quarter valued at approximately $196,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

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Organovo Company Profile

Analyst Recommendations for Organovo (NASDAQ:ONVO)

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