Organovo Holdings Inc (NYSEMKT:ONVO), a three-dimensional biology company focused on delivering scientific and medical breakthroughs using its 3D bioprinting technology, today announced that it has received a 2015 “Best of What’s New” Award for its 3D bioprinted kidney tissue from Popular Science magazine, recognizing it as one of the 100 Greatest Innovations of the Year.
“Organovo is proud to be named a top health innovator for this year by Popular Science, a leading science and technology magazine,” said Keith Murphy, chairman and chief executive officer of Organovo. “The past year has been important for us as we successfully launched our exVive3DTM Human Liver Tissue and continue to grow the market for bioprinted tissues in drug research and development. We’re excited to advance our next portfolio offering of 3D human kidney tissue.”
“The Best of What’s New awards honor the innovations that surprise and amaze us—those that challenge our view of what’s possible in the future,” said Cliff Ransom, Editor-in-Chief of Popular Science. “The award is Popular Science’s top prize, and the 100 winners—chosen from among thousands of nominees—are each a revolution in their respective fields.”
Organovo’s 3D bioprinting enables the reproducible, automated creation of living human tissues that mimic the form and function of native tissues in the body. The Company is building a number of 3D tissue models for research and drug discovery applications, as well as working to fulfill their vision of building human tissues for surgical therapy and transplantation. Organovo is also on track to bring its 3D bioprinted human kidney tissue to the broader commercial market in 2016 for use in toxicology and other preclinical drug testing.
The Company has announced collaborations with L’Oreal to develop 3D printed skin tissue for product evaluation and other areas of advanced research, with Merck to develop multiple custom tissue models for drug development, and with the Yale School of Medicineto develop 3D organ tissues for surgical transplantation research. (Original Source)
Shares of Organovo Holdings closed yesterday at $3.03. ONVO has a 1-year high of $7.68 and a 1-year low of $1.90. The stock’s 50-day moving average is $3.07 and its 200-day moving average is $3.61.
On the ratings front, Organovo Holding has been the subject of a number of recent research reports. In a report issued on October 12, Jefferies Co. analyst Brandon Couillard reiterated a Buy rating on ONVO, with a price target of $4, which implies an upside of 32.0% from current levels. Separately, on August 11, Cantor Fitzgerald’s Caroline Corner downgraded the stock to Hold and has a price target of $3.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Brandon Couillard and Caroline Corner have a total average return of 12.3% and -13.4% respectively. Couillard has a success rate of 71.6% and is ranked #236 out of 3849 analysts, while Corner has a success rate of 34.4% and is ranked #3670.
Organovo Holdings Inc is a development-stage company. It is engaged in developing and commercializing functional human tissues.