BTIG Research Reaffirms “Buy” Rating for Organogenesis (NASDAQ:ORGO)

Organogenesis (NASDAQ:ORGO)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a report issued on Friday, MarketBeat.com reports. They currently have a $9.00 price objective on the stock. BTIG Research’s price target would indicate a potential upside of 70.45% from the company’s previous close.

Several other brokerages have also recently weighed in on ORGO. Weiss Ratings restated a “sell (d+)” rating on shares of Organogenesis in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Organogenesis from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.00.

Organogenesis Stock Down 10.1%

Shares of ORGO stock opened at $5.28 on Friday. The company has a 50 day simple moving average of $5.05 and a two-hundred day simple moving average of $4.61. Organogenesis has a 12 month low of $2.61 and a 12 month high of $7.08. The stock has a market cap of $670.10 million, a P/E ratio of -44.00 and a beta of 1.47. The company has a current ratio of 3.32, a quick ratio of 2.88 and a debt-to-equity ratio of 0.01.

Organogenesis (NASDAQ:ORGO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. The business had revenue of $150.86 million during the quarter, compared to analysts’ expectations of $134.10 million. Organogenesis had a positive return on equity of 4.01% and a negative net margin of 1.30%. On average, research analysts expect that Organogenesis will post -0.07 earnings per share for the current year.

Insider Activity

In related news, Director Glenn H. Nussdorf sold 200,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $5.14, for a total transaction of $1,028,000.00. Following the completion of the transaction, the director owned 2,565,591 shares in the company, valued at $13,187,137.74. The trade was a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 500,000 shares of company stock valued at $2,620,120. 33.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Organogenesis

Institutional investors and hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC boosted its holdings in shares of Organogenesis by 10.6% in the 3rd quarter. First Light Asset Management LLC now owns 7,497,911 shares of the company’s stock valued at $31,641,000 after buying an additional 720,748 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Organogenesis by 69.9% during the third quarter. Assenagon Asset Management S.A. now owns 4,854,942 shares of the company’s stock valued at $20,488,000 after acquiring an additional 1,997,038 shares during the last quarter. Vanguard Group Inc. boosted its stake in Organogenesis by 23.4% in the first quarter. Vanguard Group Inc. now owns 4,431,414 shares of the company’s stock valued at $19,144,000 after acquiring an additional 841,618 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Organogenesis by 3.9% in the second quarter. Acadian Asset Management LLC now owns 2,424,363 shares of the company’s stock valued at $8,862,000 after acquiring an additional 91,118 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in Organogenesis in the first quarter worth $7,756,000. 49.57% of the stock is owned by institutional investors.

About Organogenesis

Organogenesis Inc operates as a regenerative medicine company focused on the development, manufacturing and commercialization of therapeutic solutions for wound care, surgical repair and sports medicine. The company’s product portfolio addresses a range of acute and chronic tissue repair needs, leveraging bioengineered skin substitutes, human placental-derived products and other allografts designed to promote healing and reduce scarring. Organogenesis markets its therapies to hospitals, outpatient clinics, wound care centers and other healthcare providers.

Key offerings include Apligraf, a living skin substitute for treatment of diabetic foot ulcers and venous leg ulcers; Dermagraft, a cryopreserved human fibroblast-derived dermal substitute; Grafix, a placental membrane allograft for complex and chronic wounds; and TheraSkin, a cryopreserved human skin allograft used in surgical and reconstructive procedures.