$840,000.00 in Sales Expected for Organovo Holdings Inc (ONVO) This Quarter

Brokerages expect Organovo Holdings Inc (NASDAQ:ONVO) to report sales of $840,000.00 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Organovo’s earnings. The lowest sales estimate is $800,000.00 and the highest is $900,000.00. Organovo posted sales of $1.11 million during the same quarter last year, which would indicate a negative year over year growth rate of 24.3%. The business is scheduled to issue its next earnings report on Thursday, May 30th.

According to Zacks, analysts expect that Organovo will report full-year sales of $3.22 million for the current financial year, with estimates ranging from $3.10 million to $3.30 million. For the next year, analysts anticipate that the firm will report sales of $3.14 million, with estimates ranging from $2.51 million to $3.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Organovo.

Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Thursday, February 7th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Organovo had a negative return on equity of 67.55% and a negative net margin of 770.79%. The business had revenue of $0.78 million during the quarter, compared to the consensus estimate of $0.87 million.

A number of research firms have weighed in on ONVO. Zacks Investment Research upgraded Organovo from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a report on Thursday. HC Wainwright began coverage on Organovo in a research report on Thursday, December 13th. They issued a “buy” rating and a $2.50 target price on the stock.

NASDAQ ONVO traded down $0.03 on Friday, reaching $1.01. The company had a trading volume of 8,399 shares, compared to its average volume of 886,274. The stock has a market cap of $124.27 million, a PE ratio of -3.13 and a beta of 1.81. Organovo has a 1 year low of $0.90 and a 1 year high of $2.09.

Institutional investors and hedge funds have recently bought and sold shares of the company. Albion Financial Group UT acquired a new stake in Organovo in the 4th quarter valued at approximately $37,000. SG Americas Securities LLC lifted its holdings in shares of Organovo by 86.5% in the fourth quarter. SG Americas Securities LLC now owns 77,206 shares of the medical research company’s stock valued at $74,000 after purchasing an additional 35,818 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Organovo by 53.0% in the fourth quarter. Rhumbline Advisers now owns 143,143 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 49,579 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Organovo in the third quarter valued at about $138,000. Finally, Lehman & Derafelo Financial Resources LLC bought a new stake in shares of Organovo in the fourth quarter valued at about $193,000. 36.22% of the stock is owned by institutional investors.

Organovo Company Profile

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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Earnings History and Estimates for Organovo (NASDAQ:ONVO)

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