Organovo (ONVO) Announces Earnings Results, Beats Estimates By $0.02 EPS

Organovo (NASDAQ:ONVO) announced its quarterly earnings results on Thursday. The medical research company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02, reports. Organovo had a negative net margin of 923.89% and a negative return on equity of 65.63%. The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $1.25 million. During the same quarter in the prior year, the business earned ($0.09) EPS. Organovo’s quarterly revenue was up .0% on a year-over-year basis.

Shares of Organovo (NASDAQ:ONVO) traded down $0.21 during trading hours on Friday, hitting $1.11. 4,354,100 shares of the company’s stock were exchanged, compared to its average volume of 1,213,051. Organovo has a 1 year low of $0.93 and a 1 year high of $3.30. The firm has a market cap of $146.49, a price-to-earnings ratio of -2.95 and a beta of 2.61.

A number of brokerages recently commented on ONVO. Raymond James Financial lowered shares of Organovo from an “outperform” rating to a “market perform” rating and set a $5.00 price target on the stock. in a research note on Friday, November 10th. Citigroup lowered shares of Organovo to a “market perform” rating in a research note on Friday, November 10th. Zacks Investment Research lowered shares of Organovo from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, BTIG Research reiterated a “buy” rating and issued a $3.00 price target on shares of Organovo in a research note on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $3.60.

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About Organovo

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.

Earnings History for Organovo (NASDAQ:ONVO)

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