Zacks: Brokerages Expect Organovo Holdings Inc (ONVO) Will Announce Earnings of -$0.08 Per Share
Equities research analysts predict that Organovo Holdings Inc (NASDAQ:ONVO) will report ($0.08) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Organovo’s earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.08). Organovo posted earnings of ($0.07) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 14.3%. The company is expected to announce its next earnings report on Thursday, February 14th.
On average, analysts expect that Organovo will report full-year earnings of ($0.28) per share for the current year, with EPS estimates ranging from ($0.28) to ($0.27). For the next financial year, analysts forecast that the company will report earnings of ($0.28) per share, with EPS estimates ranging from ($0.30) to ($0.25). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Organovo.
Organovo (NASDAQ:ONVO) last issued its quarterly earnings results on Thursday, November 8th. The medical research company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. The firm had revenue of $0.94 million for the quarter, compared to the consensus estimate of $0.90 million. Organovo had a negative net margin of 732.47% and a negative return on equity of 65.73%.
Several hedge funds and other institutional investors have recently modified their holdings of ONVO. ARK Investment Management LLC lifted its position in shares of Organovo by 32.1% in the 2nd quarter. ARK Investment Management LLC now owns 14,860,438 shares of the medical research company’s stock worth $20,805,000 after purchasing an additional 3,614,856 shares during the period. BlackRock Inc. lifted its position in shares of Organovo by 14.8% in the 2nd quarter. BlackRock Inc. now owns 6,966,411 shares of the medical research company’s stock worth $9,753,000 after purchasing an additional 897,113 shares during the period. Renaissance Technologies LLC lifted its position in shares of Organovo by 179.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,244,600 shares of the medical research company’s stock worth $1,742,000 after purchasing an additional 798,800 shares during the period. UBS Group AG lifted its position in shares of Organovo by 44.4% during the 1st quarter. UBS Group AG now owns 888,385 shares of the medical research company’s stock valued at $915,000 after acquiring an additional 273,029 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Organovo during the 3rd quarter valued at $138,000. Hedge funds and other institutional investors own 35.91% of the company’s stock.
Shares of NASDAQ ONVO opened at $1.00 on Friday. Organovo has a 52-week low of $0.91 and a 52-week high of $2.09.
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.
Further Reading: Is the Dow Jones Industrial Average (DJIA) still relevant?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Organovo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organovo and related companies with MarketBeat.com's FREE daily email newsletter.