Cantor Initiates Buy on Organovo Holdings Inc; Sees 15% Upside For The Stock
In a research report published Wednesday, Cantor Fitzgerald analyst Caroline Corner initiated coverage on shares of Organovo Holdings Inc (NYSE:ONVO) with a Buy rating and a $5 price target, which represents a potential upside of 15% from where the stock is currently trading.
Corner noted, “Organovo is a cell technology company focused on the development of three-dimensional human tissue for applications in research, drug discovery, and therapeutic implants. We think that Organovo’s proprietary bioprinting process could provide disruptive additions to the pharmaceutical toxicology markets near term. The company launched its first product, exVive3D™ Liver Model, into the pharmaceutical toxicology markets in November 2014.”
Furthermore, “We expect to hear news about commercial progress in coming quarters, although we expect that product adoption may be non-linear as customers perform their own validation work. Additionally, the company expects to tailor contracts to customer needs so cash flows over the course of the expected approximately 6-9 month contracts could be uneven.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Caroline Corner has a total average return of -8.3% and a 44.4% success rate. Corner is ranked #3164 out of 3569 analysts.