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Tag: ORGO

  • Organogenesis Holdings (ORGO) Stock trading at 52-week high ‎with strong earnings outlook

    Organogenesis Holdings (ORGO) Stock trading at 52-week high ‎with strong earnings outlook

    Organogenesis has been on a roll with few catalysts supporting the stock.

    Organogenesis Holdings (ORGO) is trading at its 52-week high with closing the session at $11.83, up by 2.42%on Feb. 3. Investors have been quite bullish on ORGO in recent times, probably due to promising preliminary Q4 2020 outcomes.

    The company has been also progressing on its cryopreserved amniotic suspension allograft (ASA) that is under Phase 3 clinical trials, studied for patients with knee osteoarthritis (OA) symptoms.

    The ORGO’s earnings outlook has improved overtime. While the stocks have also been performing with a strong trend. With that, the analysts have kept their eyes on the stock.

    What’s Next?

    Organogenesis (ORGO) is one of the leading regenerative medicine firms that focus on the Advanced Wound Care and Surgical & Sports Medicine markets. The company develops and manufactures products for the patients.

    Recently, the company reported the preliminary Q4 and full-year 2020 outcomes that were quite promising. The net revenue for Q4 is expected to be in the range of $104.6 million to $106 million, an increase of 40% to 42% Year-over-Year. While the full-year 2020 revenue is projected between $336.1 million and $337.5 million, up by almost 29% YoY. The net income and EBITDA are also expected to be positive for both the quarter and full-year.

    So, the positive results from last year seem to be the major catalyst for ORGO stock.

    Furthermore, the company is continuing with the pivotal Phase 3 clinical trials of ReNu®, it’s ASA that is being studied for tackling the symptoms of knee osteoarthritis patients. Organogenesis just announced that it has enrolled the first patient for the Phase 3 study.

    The first appointment for the trails came when the company obtained the FDA’s RMAT designation, successfully proving the clinical evidence for ReNu. The company intends to work along with the FDA until the final approval for ReNu—before it comes to the market.

    Almost 30 million people in the US are affected by Knee osteoarthritis each year and spend $185 billion annually. It is estimated that more than 14 million Americans are older than 25 years, while around 8 million are under 65 years of age.

    Moreover, the number of knee surgeries is growing each year. If Organogenesis successfully achieves the end-point results in the final phase, this would bring a big change for the knee joint patients. And, ultimately drive the company’s revenue in years to come.

    With an increase in the bullish sentiment for the company, Zacks has raised its consensus estimate to 25% in the past 30 days. For the current quarter, the company is anticipated to report $0.06 per share, which would be a whopping 250% change from a year ago. Whereas, the full-year earnings estimate is $0.05 per share, up by approximately 112% YoY.

    Conclusion

    Overall, the sentiment is bullish for Organogenesis (ORGO). Also, ORGO stock has been on a strong upward trend. The Zack consensus revision for 2021 appears promising—as there has been no negative revision over the past months.

  • Early Morning Vibes: The 4 Best Stocks To Buy Now

    American stock markets ended trading largely in the green zone on January 13. The S&P 500 index improved to 3810 points by 0.23 percent, the NASDAQ gained 0.43 percent, the Dow Jones fell by a symbolic 0.03 percent.  In general, cyclical sectors seemed lower than the economy. The automotive and raw materials markets sunk. The oil and processing industries have dropped by 1.05%. In terms of trends during the last month, the real estate market gained 1.39 percent, but still ranks among the laggards.

    Company news

    Intel (INTC: + 7%) announced its CEO change. Beginning February 15, Bob Swan will be replaced by CEO of VMware (VMW: -6.8%).

    Retailer Target (TGT: -1.2%) reported strong sales during the holiday period, but expectations were high and saw stocks up 15% over the month.

    Alibaba (BABA: + 4.3%) gained support as the US government is unlikely to exclude the company’s securities from circulation on the NYSE.

    Mixed patterns are visible in global capital markets. The news would not carry new activity motors, investors wait to see until the beginning of the quarterly reporting season. President-elect Joe Biden today will deliver a $2 trillion rescue plan. There is also some insecurity regarding the proposals to boost the economy, such that the emergence of information raises market instability which may increase investor confidence.

    Yesterday, the House of Representatives of the United States voted to challenge Donald Trump, where the Democrats planned to achieve a clear majority. In expectation of new drivers, investors will be involved in the speech by FRS President Jerome Powell, who is speaking today on the possibility of modifying the programme for quantitative easing.

    Economic news

    Today, there are weekly data on the number of initial applications for unemployment benefits (forecast: growth to 795 thousand from 787 thousand a week earlier). The latest labor market report released on January 8 showed significant job losses in December. Labor market weakness will persist in the short term.

    Delta Airlines (DAL) will report for the fourth quarter. The consensus foresees a 67% decline in airline revenue to $ 3.77 billion. Delta CEO Ed Bastian said in early December that demand for flights was slowing down on the back of rising incidence of COVID-19.

    Sentiment Index

    The Freedom Finance Sentiment Index remained stable at about 58 out of 100. The measure represents market participants’ hope that the global economy will rebound in 2021. The possibility of widespread vaccination alleviates anxiety about the detrimental consequences of the coronavirus pandemic.

    Technical picture

    Technically, the S&P 500 is still prone to short-term consolidation, during yesterday’s session the situation has not changed. Buyers are showing strength, but the RSI remains close to the overbought zone, limiting growth prospects for now. In addition, in the area of ​​3825-3830 points, there is a strong resistance in the form of the upper border of the equidistant channel, which the broad market index needs to overcome to continue the upward movement.

    Today Top Movers

    Marathon Patent Group Inc (MARA), a digital asset technology company, ascended about 7.30% ‎at $24.68 in pre-market trading Thursday after the company declared a $250 million stock offering.‎

    Churchill Capital IV Corp (CCIV) share price gained 13.04% to $18.90 during the early morning ‎trading session on Thursday.‎‎

    Organogenesis Holdings Inc (ORGO) stock soared 38.96% at $10.20 in the pre-market trading today after reporting preliminary financial results for the three months and twelve months ended December 31, 2020.‎

    Polarityte Inc (PTE) jumped over 28.70% at $1.48 in pre-market ‎trading on Thursday following the declaration of a $10.0 million registered direct offering.‎

    Latest Insider Activity

    General Motors Company (GM) Executive Vice President & CIO MOTT RANDALL D announced the sale of shares taking place on Jan 12 at $48.01 for some 25,000 shares. The total came to more than $1.2 million. 

    Cinedigm Corp. (CIDM) Director Xu Peixin sold on Dec 31 a total 30,812,133 shares at $0.61 on average. The insider’s sale generated proceeds of almost $2.36 million. 

    Root Inc. (ROOT) 10% Owner Malka Meyer declared the purchase of shares taking place on Dec 30 at $16.55 for some 753,976 shares. The transaction amount was around $12.48 million. 

    Cerecor Inc. (CERC) Director ARMISTICE CAPITAL, LLC bought on Jan 08 a total 32,634,285 shares at $2.60 on average. The purchase cost the insider an estimated $6.5 million.

    Important Earnings

    Top US earnings releases scheduled for today include Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.94 per share from revenues of $12.91B in the three-month period. 

    Analysts expect Delta Air Lines Inc. (NYSE: DAL) to report a net income (adjusted) of -$2.51 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $3.6B. 

    Progress Software Corporation (PRGS), due to announce earnings after the market closes today, is expected to report earnings of $0.77 per share from revenues of $128.01M recently concluded three-month period.