Morgan Stanley Increases Organogenesis (NASDAQ:ORGO) Price Target to $6.00

Organogenesis (NASDAQ:ORGO) had its price objective increased by equities research analysts at Morgan Stanley from $4.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 6.38% from the stock’s current price.

Organogenesis Stock Performance

Shares of ORGO stock opened at $5.64 on Wednesday. The stock has a fifty day moving average price of $3.61 and a 200 day moving average price of $3.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.74 and a current ratio of 3.09. The stock has a market cap of $715.31 million, a PE ratio of -94.00 and a beta of 1.66. Organogenesis has a 1 year low of $2.17 and a 1 year high of $6.71.

Insider Activity

In other Organogenesis news, CEO Gary S. Gillheeney sold 157,448 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $3.64, for a total value of $573,110.72. Following the sale, the chief executive officer now directly owns 3,143,753 shares in the company, valued at approximately $11,443,260.92. This trade represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Joseph Driscoll sold 25,000 shares of Organogenesis stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $5.10, for a total value of $127,500.00. Following the sale, the director now directly owns 166,879 shares in the company, valued at $851,082.90. The trade was a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 284,700 shares of company stock worth $1,051,472 over the last 90 days. Company insiders own 36.90% of the company’s stock.

Hedge Funds Weigh In On Organogenesis

A number of hedge funds and other institutional investors have recently modified their holdings of ORGO. Mackenzie Financial Corp lifted its stake in Organogenesis by 255.1% during the fourth quarter. Mackenzie Financial Corp now owns 76,353 shares of the company’s stock valued at $244,000 after buying an additional 54,850 shares in the last quarter. Soleus Capital Management L.P. grew its position in Organogenesis by 5.4% during the 4th quarter. Soleus Capital Management L.P. now owns 12,484,876 shares of the company’s stock worth $39,952,000 after purchasing an additional 645,000 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new stake in Organogenesis during the 4th quarter valued at $157,000. Squarepoint Ops LLC lifted its holdings in shares of Organogenesis by 53.2% in the fourth quarter. Squarepoint Ops LLC now owns 126,791 shares of the company’s stock valued at $406,000 after purchasing an additional 44,051 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Organogenesis by 25.9% in the fourth quarter. Two Sigma Investments LP now owns 382,406 shares of the company’s stock worth $1,224,000 after buying an additional 78,744 shares during the period. Institutional investors and hedge funds own 49.57% of the company’s stock.

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.