There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Organovo Holdings (NASDAQ:ONVO) and OrthoPediatrics Corp (NASDAQ:KIDS) with bullish sentiments.
Organovo Holdings (ONVO)
BTIG analyst Sean Lavin maintained a Buy rating on Organovo Holdings yesterday and set a price target of $3. The company’s shares closed yesterday at $1.09, close to its 52-week low of $0.91.
Lavin commented:
“F1Q19 revenue of $0.7M came in lighter than our $1.6M forecast and consensus’ estimate of $1.3M. Near-term revenue continues to be lumpy given the nature of the business. In light of the ongoing changes to Organovo’s business strategy, we feel quarterly results remain prone to much volatility. On the plus side, the company provided a definitive timeline around the submission for A1AT in calendar 2020. In addition, Organovo intends to push a second indication in the rare disease space next calendar year. Though commentary on the aggregate liver disease market opportunity of $4B+ remains encouraging, we did not walk away with incremental comfort around the near-term ramp and admit that our forward estimates remain very somewhat fluid.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 13.5% and a 60.8% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
Currently, the analyst consensus on Organovo Holdings is a Moderate Buy with an average price target of $2.38.
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OrthoPediatrics Corp (KIDS)
In a report released yesterday, Ryan Zimmerman from BTIG maintained a Buy rating on OrthoPediatrics Corp, with a price target of $32. The company’s shares closed yesterday at $27.82.
Zimmerman noted:
“Growing “Growth Story”. Reiterate Buy We visited KIDS’ HQ in Warsaw, IN this past Friday, August 10 th following the 2Q18 earnings call to meet with mgmt. and discuss numerous dynamics regarding OrthoPediatrics. We came away from our meeting with increased conviction in the long-term growth path for KIDS and we continue to believe the top line will be driven by new products (both in Trauma and Scoliosis), increased penetration in existing territories, minimal competitive encroachment and more recently, an increased focus from FDA on advancing the pediatric device field. We reiterate our Buy and $32 PT.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 29.7% and a 74.6% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Integra Lifesciences, SeaSpine Holdings, and Globus Medical.
OrthoPediatrics Corp has an analyst consensus of Strong Buy, with a price target consensus of $32.33, representing a 16.2% upside. In a report issued on August 9, Stifel Nicolaus also reiterated a Buy rating on the stock with a $32 price target.
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