OvaScience Inc (NASDAQ:OVAS), a global fertility company focused on the discovery, development and commercialization of new treatment options, announced that Ravi Mehrotra, Ph.D., has joined the Company as Chief Corporate Development Officer. Dr. Mehrotra joinsOvaScience from Credit Suisse LLC, where he served as Global Head of Biotechnology Equity Research.
“Ravi brings a unique perspective based on the more than 18 years he spent evaluating a wide range of life sciences companies while analyzing and predicting industry trends,” said Michelle Dipp, M.D., Ph.D., Chief Executive Officer at OvaScience. “His understanding of the life sciences landscape, experience building strategic relationships and analytical skills will help us to identify new opportunities for expanding our portfolio of fertility treatments and potential partnerships that can increase the availability of our treatment options internationally.”
“I am excited to join OvaScience at such an inflection point within the history of the company. In my nearly two decades of experience analyzing Life Science companies, I have yet to see such a unique combination of science, management and commercial opportunity. OvaScience has the potential to revolutionize the global fertility market by delivering innovative treatments to dramatically improve the treatment of infertility,” said Dr. Mehrotra. “OvaScience is building its operations internationally with the AUGMENT treatment and introducing the OvaPrime treatment, a second groundbreaking treatment, to patients this year. I am committed to helping the Company advance these and other goals, whilst creating new opportunities in the broader fertility domain.”
Dr. Mehrotra joins from Credit Suisse LLC where he served as Global Head of Biotechnology Equity Research since 2010 based in New York, leading the equity research team that covered more than 40 global biotechnology and life sciences companies. Dr. Mehrotra originally joined Credit Suisse in 2004 in London, U.K., and served as Head ofEuropean Biotechnology and EMEA Equity Research, being ranked the number one analyst in both European Institutional Investor and Extel surveys. Prior to that, he held positions of increasing responsibility at SG Cowen inLondon, including Head of European Biotechnology. Earlier in his career, he worked for Deutsche Bank (Natwest Markets/BT Alex Brown) in London. Dr. Mehrotra holds a Bachelor of Science in Biochemistry and a Ph.D. in Biochemistry and Molecular Biology from Manchester University. (Original Source)
Shares of OvaScience closed last Friday at $29.17 . OVAS has a 1-year high of $55.69 and a 1-year low of $6.92. The stock’s 50-day moving average is $29.37 and its 200-day moving average is $36.53.
On the ratings front, OvaScience has been the subject of a number of recent research reports. In a report issued on May 12, Oppenheimer analyst Rohit Vanjani reiterated a Buy rating on OVAS, with a price target of $60, which represents a potential upside of 105.7% from where the stock is currently trading. Separately, on March 30, H.C. Wainwright’s Andrew Fein reiterated a Buy rating on the stock and has a price target of $100.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Rohit Vanjani and Andrew Fein have a total average return of 35.6% and 21.0% respectively. Vanjani has a success rate of 75.3% and is ranked #24 out of 3604 analysts, while Fein has a success rate of 60.7% and is ranked #211.
The street is mostly Bullish on OVAS stock. Out of 4 analysts who cover the stock, 4 suggest a Buy rating . The 12-month average price target assigned to the stock is $71.50, which represents a potential upside of 145.1% from where the stock is currently trading.
OvaScience Inc is a life science company engaged in discovery, development, and commercialization of new fertility treatments. Its patented technology is based on egg precursor cells found in the outer layer of a woman’s own ovaries.