Zacks Investment Research Downgrades OvaScience (OVAS) to Hold
OvaScience (NASDAQ:OVAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “OvaScience, Inc. is a life science company focused on the discovery, development and commercialization of new treatments for infertility. Its product includes Augment for the treatment of infertility and Ova Ture used in the creation of mature fertilizable eggs. Ova Science, Inc. is headquartered in Cambridge, Massachusetts. “
Separately, HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of OvaScience in a report on Monday, November 6th.
Shares of OvaScience (NASDAQ OVAS) traded up $0.07 during midday trading on Thursday, reaching $1.18. 2,501,000 shares of the company were exchanged, compared to its average volume of 1,702,367. OvaScience has a 12-month low of $1.08 and a 12-month high of $2.05. The stock has a market capitalization of $42.13, a P/E ratio of -0.64 and a beta of 3.73.
OvaScience (NASDAQ:OVAS) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.15. OvaScience had a negative net margin of 20,090.13% and a negative return on equity of 68.71%. analysts forecast that OvaScience will post -1.48 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its holdings in OvaScience by 28.8% during the second quarter. Wells Fargo & Company MN now owns 164,283 shares of the biotechnology company’s stock worth $256,000 after buying an additional 36,720 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in OvaScience by 87.2% during the second quarter. Susquehanna International Group LLP now owns 112,781 shares of the biotechnology company’s stock valued at $176,000 after purchasing an additional 52,538 shares in the last quarter. Sabby Management LLC lifted its holdings in OvaScience by 20.2% during the second quarter. Sabby Management LLC now owns 509,300 shares of the biotechnology company’s stock valued at $795,000 after purchasing an additional 85,525 shares in the last quarter. Zacks Investment Management purchased a new position in OvaScience during the second quarter valued at $140,000. Finally, Broadfin Capital LLC purchased a new position in OvaScience during the second quarter valued at $429,000. 55.06% of the stock is currently owned by hedge funds and other institutional investors.
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OvaScience, Inc is a global fertility company. The Company is focused on the discovery, development and commercialization of fertility treatment options for women. The Company’s portfolio of fertility treatment options uses its technology, including methods to identify and isolate Egg precursor (EggPC) cells from a patient’s own ovarian tissue.
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