Organovo Holdings (ONVO) PT Lifted to $6 at Cantor Fitzgerald
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Cantor Fitzgerald analyst Caroline Corner reiterated a Buy rating and bumped her price target on Organovo Holdings (NYSE: ONVO) to $6.00 (from $5.00) on contract progress.
Corner commented, "Organovo Holdings held an earnings call last week reiterating its previously announced revenue numbers, and offering a bit more color about early adoption. Recall that those 4Q:15 revenues of $0.3M were in line with our estimate, which we were pleased to see. In the earnings release, the company also revealed total contract bookings to date, much of which will be reported as future quarter revenue. We are impressed with the progress to date and have raised our revenue estimates slightly to account for recent performance. We reiterate our BUY rating and raise our PT to $6 from $5."
Shares of Organovo Holdings closed at $5.32 yesterday.
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