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BTIG’s Sean Lavin sees Organovo Holdings Inc (NASDAQ: ONVO) as a long-term investment “with multiple opportunities”.
Lavin initiated coverage of the company with a Buy rating and price target of $5.
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Multiple Opportunities
The analyst mentioned that the markets for liver and kidney tissue for preclinical testing were worth $3.7 billion, while the use of tissue for drug discovery could bring in royalty payments.
Lavin also stated, “The potential market for therapeutic tissues would lead to significant upside from the current stock price and is essentially a call option.”
Although there are several positives, the analyst pointed out that 3D tissue printing and the use of such tissue in drug discovery was still a new arena, without any reliable way to predict how this technology would be adopted by pharma companies.
Organovo Holdings’ tissue “allows a preview of the human toxicology and metabolic responses well before traditional human trials,” Lavin explained, which means that pharma companies would be able to “see better data earlier and select the best drugs to enter into costly human trials.”
Additional Market Opportunities
In addition, the analyst believes partnerships could prove valuable, opening additional markets for the company.
“It’s not a reality yet, but printing tissue for therapeutic uses can change the transplant market. The company is very early in development, having recently presented promising data on liver tissue in animal models, but we believe that over time and if successful, there is a tremendous need for transplant alternatives,” Lavin added.
At last check, shares of Organovo were up 3.08 percent at $3.80.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.