BTIG Research Cuts Organogenesis (NASDAQ:ORGO) Price Target to $8.00

Organogenesis (NASDAQ:ORGO) had its target price reduced by investment analysts at BTIG Research from $9.00 to $8.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 116.22% from the company’s current price.

A number of other analysts have also commented on ORGO. Wall Street Zen raised Organogenesis from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Organogenesis in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.67.

Organogenesis Trading Down 10.0%

NASDAQ:ORGO opened at $3.70 on Friday. Organogenesis has a 12 month low of $2.61 and a 12 month high of $7.08. The company has a current ratio of 3.32, a quick ratio of 2.88 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $469.57 million, a price-to-earnings ratio of -30.83 and a beta of 1.46. The firm has a fifty day simple moving average of $4.27 and a two-hundred day simple moving average of $4.60.

Insider Buying and Selling

In other Organogenesis 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 value of $1,028,000.00. Following the transaction, the director owned 2,565,591 shares of the company’s stock, valued at approximately $13,187,137.74. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 33.00% of the company’s stock.

Institutional Trading of Organogenesis

Several hedge funds have recently made changes to their positions in ORGO. First Light Asset Management LLC lifted its position in shares of Organogenesis by 10.6% during the third quarter. First Light Asset Management LLC now owns 7,497,911 shares of the company’s stock worth $31,641,000 after acquiring an additional 720,748 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Organogenesis by 14.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,535,334 shares of the company’s stock valued at $28,673,000 after purchasing an additional 680,392 shares during the period. Deutsche Bank AG boosted its stake in Organogenesis by 0.4% during the fourth quarter. Deutsche Bank AG now owns 3,297,631 shares of the company’s stock valued at $17,082,000 after buying an additional 13,301 shares during the period. Acadian Asset Management LLC boosted its position in shares of Organogenesis by 3.9% during the 2nd 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 during the last quarter. Finally, Geode Capital Management LLC lifted its position in Organogenesis by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,786,978 shares of the company’s stock valued at $9,259,000 after purchasing an additional 62,346 shares during the last quarter. 49.57% of the stock is currently 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.