Zacks Investment Research upgraded shares of Organovo Holdings, Inc. (ONVO) from N/A to OUTPERFORM on August 20, 2012, with a target price of $3.25.
We are initiating coverage of Organovo, Inc. with an Outperform' rating. We believe the company's pioneering efforts into three-dimensional bioprinting have the potential to dramatically improve drug discovery and development. Organovo's bioprinter, the NovoGen MMX, is a first-in-class device capable of creating three-dimensional living tissue that can be used to model a specific disease or pathway, build complex pharmacokinetic and toxicology assays, and even create human organs for transplantation or other regenerative medicine applications. We expect the company's top-line to be lumpy, but eventually take off in a hockey-stick like ramp starting in 2015. We expect costs to remain low, as management looks to partner with larger organizations and academic institutions. We see $3.25 as fair-value.
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