Jefferies Keeps a Buy Rating on Organovo Holdings

By Jason Carr

Jefferies analyst Brandon Couillard reiterated a Buy rating on Organovo Holdings (NYSE: ONVO) yesterday and set a price target of $4. The company’s shares opened today at $2.36.

According to TipRanks.com, Couillard is a top 25 analyst with an average return of 26.7% and a 76.9% success rate. Couillard covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, Orasure Technologies, and DENTSPLY SIRONA Inc.

Organovo Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $4.

Based on Organovo Holdings’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $990K and GAAP net loss of $10.1 million. In comparison, last year the company earned revenue of $891K and had a GAAP net loss of $8.77 million.

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Organovo Holdings, Inc. is a biotechnology company, which designs and creates functional and three-dimensional human tissues for medical research and therapeutic applications. It also develops and commercializes a platform technology for the generation of three-dimensional human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. The company collaborates with pharmaceutical and academic partners to develop human biological disease models in three dimensions. Organovo Holdings was founded on January 30, 2012 and is headquartered in San Diego, CA.