Wall Street brokerages expect that Organovo Holdings Inc (NASDAQ:ONVO) will report ($0.07) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Organovo’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at ($0.06). Organovo also reported earnings per share of ($0.07) in the same quarter last year. The business is scheduled to announce its next earnings results on Thursday, May 30th.
On average, analysts expect that Organovo will report full-year earnings of ($0.25) per share for the current financial year, with EPS estimates ranging from ($0.27) to ($0.24). For the next financial year, analysts anticipate that the business will post earnings of ($0.26) per share, with EPS estimates ranging from ($0.30) to ($0.21). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Organovo.
Organovo (NASDAQ:ONVO) last issued its earnings results on Thursday, February 7th. The medical research company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The business had revenue of $0.78 million for the quarter, compared to the consensus estimate of $0.87 million. Organovo had a negative net margin of 770.79% and a negative return on equity of 67.55%.
ONVO has been the topic of a number of research reports. Zacks Investment Research raised shares of Organovo from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a report on Friday, November 16th. HC Wainwright started coverage on shares of Organovo in a research report on Thursday, December 13th. They set a “buy” rating and a $2.50 price objective for the company.
Shares of ONVO opened at $1.06 on Tuesday. The stock has a market cap of $123.08 million, a price-to-earnings ratio of -3.31 and a beta of 1.84. Organovo has a 12-month low of $0.90 and a 12-month high of $2.09.
Several institutional investors have recently made changes to their positions in ONVO. ARK Investment Management LLC lifted its position in Organovo by 20.8% in the third quarter. ARK Investment Management LLC now owns 17,951,107 shares of the medical research company’s stock worth $20,644,000 after purchasing an additional 3,090,669 shares during the period. BlackRock Inc. raised its holdings in shares of Organovo by 1.5% in the third quarter. BlackRock Inc. now owns 7,068,897 shares of the medical research company’s stock valued at $8,129,000 after buying an additional 102,486 shares during the last quarter. Virtu Financial LLC acquired a new stake in Organovo in the third quarter worth about $138,000. Renaissance Technologies LLC increased its position in Organovo by 25.4% in the third quarter. Renaissance Technologies LLC now owns 1,561,000 shares of the medical research company’s stock worth $1,795,000 after purchasing an additional 316,400 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Organovo by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,771,558 shares of the medical research company’s stock worth $5,487,000 after buying an additional 52,073 shares during the period. Institutional investors and hedge funds own 35.35% of the company’s stock.
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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