Organogenesis (NASDAQ:ORGO) Given New $9.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has raised the price target for Organogenesis (ORGO) from $7.00 to $9.00, indicating a potential upside of 115.05% from its current price.
• The company's stock has declined 7.4% on the day, trading at $4.19, with a 52-week range from $2.28 to $6.71.
• Insider Lori Freedman has increased her stake in Organogenesis by purchasing 9,022 shares, demonstrating insider confidence in the company's future outlook.

Organogenesis (NASDAQ:ORGO - Free Report) had its price objective lifted by Cantor Fitzgerald from $7.00 to $9.00 in a report published on Friday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Separately, BTIG Research reaffirmed a "buy" rating on shares of Organogenesis in a report on Tuesday, July 15th.

Organogenesis Stock Performance

Shares of ORGO stock traded up $0.28 during trading hours on Friday, hitting $4.89. 874,898 shares of the company were exchanged, compared to its average volume of 1,477,405. The business's 50-day simple moving average is $4.01 and its two-hundred day simple moving average is $4.07. Organogenesis has a one year low of $2.43 and a one year high of $6.71. The stock has a market capitalization of $620.35 million, a price-to-earnings ratio of -34.93 and a beta of 1.76.

Organogenesis (NASDAQ:ORGO - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.08). The business had revenue of $101.01 million during the quarter, compared to the consensus estimate of $104.75 million. Organogenesis had a negative return on equity of 0.37% and a negative net margin of 1.92%. As a group, analysts anticipate that Organogenesis will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at Organogenesis

In related news, insider Lori Freedman acquired 9,022 shares of Organogenesis stock in a transaction dated Friday, June 6th. The stock was acquired at an average cost of $2.99 per share, with a total value of $26,975.78. Following the purchase, the insider directly owned 846,459 shares in the company, valued at $2,530,912.41. The trade was a 1.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders acquired 252,264 shares of company stock worth $725,732. Company insiders own 33.00% of the company's stock.

Hedge Funds Weigh In On Organogenesis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC acquired a new position in Organogenesis in the 2nd quarter worth approximately $35,000. Merit Financial Group LLC acquired a new position in Organogenesis in the 1st quarter worth approximately $45,000. Ground Swell Capital LLC acquired a new position in Organogenesis in the 2nd quarter worth approximately $39,000. Victory Capital Management Inc. acquired a new position in Organogenesis in the 1st quarter worth approximately $67,000. Finally, Catalyst Funds Management Pty Ltd acquired a new position in Organogenesis in the 2nd quarter worth approximately $63,000. Institutional investors and hedge funds own 49.57% of the company's stock.

About Organogenesis

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.