Zacks: Analysts Anticipate Organovo Holdings, Inc. (NASDAQ:ONVO) Will Post Earnings of -$0.10 Per Share
Equities analysts forecast that Organovo Holdings, Inc. (NASDAQ:ONVO) will announce earnings of ($0.10) per share for the current quarter, Zacks reports. Two analysts have provided estimates for Organovo Holdings’ earnings. Organovo Holdings posted earnings of ($0.09) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 11.1%. The company is scheduled to report its next earnings report after the market closes on Wednesday, August 9th.
According to Zacks, analysts expect that Organovo Holdings will report full-year earnings of ($0.39) per share for the current fiscal year. For the next financial year, analysts forecast that the company will post earnings of ($0.34) per share, with EPS estimates ranging from ($0.38) to ($0.31). Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Organovo Holdings.
Organovo Holdings (NASDAQ:ONVO) last posted its quarterly earnings data on Wednesday, June 7th. The company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. Organovo Holdings had a negative net margin of 908.91% and a negative return on equity of 63.92%. The business had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.76 million. The company’s quarterly revenue was up 700.0% compared to the same quarter last year.
A number of research firms recently weighed in on ONVO. Jefferies Group LLC reissued a “buy” rating and set a $4.00 price target on shares of Organovo Holdings in a research note on Thursday, July 27th. BidaskClub downgraded shares of Organovo Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Evercore ISI reissued an “outperform” rating and set a $3.75 price target (down from $4.00) on shares of Organovo Holdings in a research note on Friday, June 9th. Finally, Zacks Investment Research raised shares of Organovo Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $6.20.
Organovo Holdings (NASDAQ:ONVO) traded down 0.45% on Monday, hitting $2.20. 561,428 shares of the company were exchanged. Organovo Holdings has a one year low of $2.16 and a one year high of $4.99. The stock has a 50 day moving average price of $2.57 and a 200 day moving average price of $2.92.
Large investors have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. increased its stake in shares of Organovo Holdings by 191.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 35,000 shares of the company’s stock valued at $111,000 after buying an additional 23,000 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Organovo Holdings by 32.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 385,659 shares of the company’s stock valued at $1,227,000 after buying an additional 95,177 shares during the last quarter. KCG Holdings Inc. increased its stake in shares of Organovo Holdings by 139.3% in the first quarter. KCG Holdings Inc. now owns 144,501 shares of the company’s stock valued at $460,000 after buying an additional 84,126 shares during the last quarter. UBS Group AG increased its stake in shares of Organovo Holdings by 31.3% in the first quarter. UBS Group AG now owns 1,289,100 shares of the company’s stock valued at $4,099,000 after buying an additional 306,982 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Organovo Holdings by 44.6% in the first quarter. Geode Capital Management LLC now owns 955,299 shares of the company’s stock valued at $3,037,000 after buying an additional 294,861 shares during the last quarter. 22.77% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/08/07/zacks-analysts-anticipate-organovo-holdings-inc-nasdaqonvo-will-post-earnings-of-0-10-per-share.html.
Organovo Holdings Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Organovo Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organovo Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.