OvaScience Inc. (NASDAQ:OVAS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “OvaScience, Inc. is a life science company focused on the discovery, development and commercialization of new treatments for infertility. Its product includes Augment for the treatment of infertility and Ova Ture used in the creation of mature fertilizable eggs. Ova Science, Inc. is headquartered in Cambridge, Massachusetts. “
Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of OvaScience from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 5th. JMP Securities reaffirmed a “neutral” rating on shares of OvaScience in a research report on Wednesday, August 10th. Finally, Credit Suisse Group AG reaffirmed a “sell” rating on shares of OvaScience in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. OvaScience presently has an average rating of “Hold” and a consensus price target of $8.52.
Shares of OvaScience (NASDAQ:OVAS) traded down 5.04% during midday trading on Wednesday, reaching $3.58. The company’s stock had a trading volume of 385,969 shares. The company’s market cap is $127.48 million. OvaScience has a 12 month low of $3.39 and a 12 month high of $11.66. The company’s 50-day moving average price is $4.87 and its 200-day moving average price is $6.01.
OvaScience (NASDAQ:OVAS) last released its earnings results on Thursday, November 3rd. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.08. OvaScience had a negative net margin of 11,642.67% and a negative return on equity of 62.66%. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period last year, the company earned ($0.66) earnings per share. The company’s quarterly revenue was down 73.3% on a year-over-year basis. On average, equities analysts anticipate that OvaScience will post ($2.51) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Highbridge Capital Management LLC purchased a new position in OvaScience during the third quarter worth approximately $350,000. D. E. Shaw & Co. Inc. boosted its position in OvaScience by 273.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 169,188 shares of the company’s stock worth $1,211,000 after buying an additional 123,934 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in OvaScience during the third quarter worth approximately $166,000. Morgan Stanley raised its stake in shares of OvaScience by 86.6% in the third quarter. Morgan Stanley now owns 44,635 shares of the company’s stock worth $319,000 after buying an additional 20,710 shares during the period. Finally, Northern Trust Corp raised its stake in shares of OvaScience by 122.1% in the third quarter. Northern Trust Corp now owns 525,822 shares of the company’s stock worth $3,765,000 after buying an additional 289,039 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.
OvaScience, Inc is a global fertility company. The Company is focused on the discovery, development and commercialization of fertility treatment options for women. The Company’s portfolio of fertility treatment options uses its technology, including methods to identify and isolate Egg precursor (EggPC) cells from a patient’s own ovarian tissue.