Equities research analysts forecast that Organovo Holdings Inc (NASDAQ:ONVO) will report $1.23 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Organovo’s earnings, with the lowest sales estimate coming in at $1.20 million and the highest estimate coming in at $1.26 million. Organovo posted sales of $1.15 million in the same quarter last year, which would indicate a positive year over year growth rate of 7%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, February 8th.
According to Zacks, analysts expect that Organovo will report full-year sales of $1.23 million for the current fiscal year, with estimates ranging from $4.95 million to $5.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $8.30 million per share, with estimates ranging from $6.60 million to $10.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Organovo.
Organovo (NASDAQ:ONVO) last issued its quarterly earnings data on Thursday, November 9th. The medical research company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company had revenue of $1.36 million during the quarter, compared to analysts’ expectations of $1.38 million. Organovo had a negative net margin of 923.89% and a negative return on equity of 65.63%. The business’s quarterly revenue was down 1.4% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC boosted its stake in shares of Organovo by 18.8% in the 2nd quarter. Voya Investment Management LLC now owns 52,032 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 8,225 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Organovo by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 82,408 shares of the medical research company’s stock valued at $217,000 after purchasing an additional 7,098 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Organovo by 27.4% in the 2nd quarter. Alliancebernstein L.P. now owns 93,050 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 20,000 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Organovo by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 110,444 shares of the medical research company’s stock valued at $290,000 after purchasing an additional 4,640 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Organovo by 40.9% in the 2nd quarter. Teachers Advisors LLC now owns 235,489 shares of the medical research company’s stock valued at $619,000 after purchasing an additional 68,412 shares in the last quarter. 25.78% of the stock is owned by institutional investors.
Organovo (ONVO) opened at $1.38 on Tuesday. Organovo has a 12 month low of $1.32 and a 12 month high of $3.85. The company has a market cap of $150.76, a P/E ratio of -3.63 and a beta of 3.08.
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Organovo Company Profile
Organovo Holdings, Inc is an early commercial-stage company focused on developing and commercializing functional human tissues. The Company focuses on the generation of three-dimensional (3D) human tissues, by utilizing its platform technology to create human tissue constructs in 3D. It is focused on development of products, including 3D human tissues used for the preclinical assessment of drug effects, including applications in predictive toxicology, absorption, distribution, metabolism, excretion (ADME), and drug metabolism and pharmacokinetics (DMPK); customized human tissues as living, dynamic models of human biology or disease, for use in drug discovery and development, and three-dimensional human tissues for clinical applications, such as blood vessels for bypass grafting, nerve grafts for nerve damage repair and functional tissue patches for the repair or replacement of damaged tissues and organs.
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