OvaScience Inc (NASDAQ:OVAS), a global fertility company focused on the discovery, development and commercialization of new treatment options, today announced Harald F. Stock, Ph.D., will succeed Michelle Dipp, M.D., Ph.D. as CEO, effective July 1, 2016. Dr. Stock has nearly two decades of experience driving global commercial growth in the healthcare industry and has served on the OvaScience Board since 2013. Dr. Dipp has been appointed Executive Chairman of the Board, and she will remain CEO until July 1. In her new role, Dr. Dipp will work closely with Dr. Stock to evolve the Company’s corporate strategy and will focus on business development.
“With our first fertility treatment now commercial and our pipeline on track, we are committed to building a strong global commercial and operational platform to expand access to our treatments and technology,” said Dr. Dipp. “Harald’s strong track record for evolving, growing and commercializing innovative healthcare companies makes him the right choice to lead the execution of OvaScience’s long-term global strategy. I look forward to working alongside Harald as we move into the next phase of growth for the Company.”
Dr. Stock, 47, has held leadership roles in a wide range of healthcare companies, including direct-to-consumer, innovative specialty pharma and service-intensive device and diagnostics businesses. His operational track record includes growing sales of multiple products in the U.S., Europe, Asia and other key markets around the world. Most recently, Dr. Stock served as President and CEO of Sweden-based ArjoHuntleigh, a leading acute and long-term care equipment company with global revenues of approximately $1 Billion, where he led the growth turnaround of the company through a renewal of the company’s portfolio and an increased focus on emerging markets. Dr. Stock also served as Executive Vice President, Extended Care Business Area, of Getinge Group, the publicly listed principal owner of ArjoHuntleigh.
Before joining ArjoHuntleigh and Getinge Group, Dr. Stock was the CEO of Grünenthal, an international research-based pharmaceutical company headquartered in Germany, where he led the global transformation to focus on innovative pain medications, expand in Latin America and grew revenues in Europe and the U.S. with the launch of Palexia / Nucynta (Tapentadol). Prior to joining Grünenthal in 2009, Dr. Stock was Chairman and Managing Director at DePuy, the Orthopedics Division of Johnson & Johnson. Previously, he led corporate divisions of the Roche Group including Senior Vice President of the Global Near Patient Testing business. Dr. Stock holds a Ph.D. in Inorganic Chemistry from Ruprecht-Karls-University of Heidelberg, Germany. (Original Source)
Shares of OvaScience closed yesterday at $9.42, up $0.18 or 1.95%. OVAS has a 1-year high of $55.69 and a 1-year low of $7.90. The stock’s 50-day moving average is $10.12 and its 200-day moving average is $17.75.
On the ratings front, OvaScience has been the subject of a number of recent research reports. In a report issued on December 14, Oppenheimer analyst Rohit Vanjani assigned a Buy rating on OVAS, with a price target of $16, which implies an upside of 69.9% from current levels. Separately, on November 9, Leerink Swann’s Paul Matteis downgraded the stock to Hold and has a price target of $14.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Rohit Vanjani and Paul Matteis have a total average return of 17.8% and -18.3% respectively. Vanjani has a success rate of 59.2% and is ranked #74 out of 3647 analysts, while Matteis has a success rate of 22.2% and is ranked #3520.
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.