Organogenesis (NASDAQ:ORGO) Shares Gap Up After Strong Earnings

Shares of Organogenesis (NASDAQ:ORGO) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $3.89, but opened at $5.11. Organogenesis shares last traded at $5.1410, with a volume of 5,105,479 shares traded.

The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.11. The company had revenue of $150.86 million for the quarter, compared to analysts’ expectations of $134.10 million. Organogenesis had a negative return on equity of 0.37% and a negative net margin of 1.92%. Organogenesis has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ORGO shares. BTIG Research restated a “buy” rating and issued a $7.00 price objective on shares of Organogenesis in a report on Friday, September 26th. Cantor Fitzgerald boosted their price target on Organogenesis from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Organogenesis in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.33.

Institutional Investors Weigh In On Organogenesis

A number of hedge funds have recently made changes to their positions in ORGO. State of Alaska Department of Revenue bought a new position in Organogenesis during the third quarter valued at $25,000. Farther Finance Advisors LLC bought a new stake in shares of Organogenesis in the second quarter valued at about $35,000. Ground Swell Capital LLC purchased a new position in shares of Organogenesis in the second quarter worth $39,000. Walleye Capital LLC purchased a new stake in Organogenesis during the 2nd quarter valued at about $45,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in shares of Organogenesis in the third quarter worth about $51,000. 49.57% of the stock is currently owned by hedge funds and other institutional investors.

Organogenesis Trading Up 43.0%

The stock has a market capitalization of $705.72 million, a price-to-earnings ratio of -37.91 and a beta of 1.68. The stock has a 50-day moving average price of $4.42 and a 200 day moving average price of $4.18.

Organogenesis Company Profile

Organogenesis Holdings Inc, a regenerative medicine company, develops, manufactures, and commercializes solutions for the advanced wound care, and surgical and sports medicine markets in the United States. The company's advanced wound care products include Affinity, an amniotic membrane in which viable cells, growth factors/cytokines, and ECM proteins in the native tissue are preserved; Novachor, a chorion membrane in which viable cells, growth factors/cytokines, and ECM proteins in the native tissue are preserved; Apligraf, a bioengineered living cell therapy that produce spectrum of cytokines and growth factors; Dermagraft, a bioengineered product that produces human collagen, ECM, proteins, cytokines, and growth factors; NuShield, dehydrated placental tissue covering amnion and chorion membranes for spongy/intermediate layer intact; and PuraPly AM, an antimicrobial barrier that enables conformability and fluid drainage.