Orchard Therapeutics (NASDAQ:ORTX) Lowered to “Sell” at Zacks Investment Research

Orchard Therapeutics (NASDAQ:ORTX – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Orchard Therapeutics plc is a biopharmaceutical company. It offers medical research, gene therapy and inherited disorder treatment services which transforms the lives of patients with serious and life-threatening rare diseases through autologous ex vivo gene therapies. Orchard Therapeutics plc is based in London, United Kingdom. “

ORTX has been the subject of several other reports. Sumitomo Mitsui Financial Group restated a “neutral” rating on shares of Orchard Therapeutics in a research note on Friday, April 1st. Barclays decreased their target price on shares of Orchard Therapeutics from $6.00 to $4.00 in a research note on Friday, May 13th. Stifel Nicolaus decreased their target price on shares of Orchard Therapeutics from $12.00 to $5.00 in a research note on Thursday, March 31st. Finally, Cowen cut shares of Orchard Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 31st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Shares of NASDAQ ORTX opened at $0.46 on Thursday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.17. Orchard Therapeutics has a 12 month low of $0.41 and a 12 month high of $5.53. The company has a 50 day simple moving average of $0.60 and a two-hundred day simple moving average of $0.94. The stock has a market cap of $57.79 million, a price-to-earnings ratio of -0.38 and a beta of 1.20.

Orchard Therapeutics (NASDAQ:ORTX – Get Rating) last announced its quarterly earnings data on Wednesday, March 30th. The company reported ($0.29) EPS for the quarter, meeting the consensus estimate of ($0.29). The business had revenue of $0.48 million for the quarter, compared to analyst estimates of $0.65 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. Analysts forecast that Orchard Therapeutics will post -0.95 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in Orchard Therapeutics by 964.4% in the 3rd quarter. Renaissance Technologies LLC now owns 1,064,379 shares of the company’s stock worth $2,448,000 after acquiring an additional 964,379 shares in the last quarter. SG Americas Securities LLC increased its holdings in Orchard Therapeutics by 62.0% in the 1st quarter. SG Americas Securities LLC now owns 1,052,786 shares of the company’s stock worth $750,000 after acquiring an additional 403,116 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Orchard Therapeutics by 19.9% during the first quarter. BlackRock Inc. now owns 749,990 shares of the company’s stock worth $534,000 after buying an additional 124,478 shares in the last quarter. Eversept Partners LP purchased a new stake in shares of Orchard Therapeutics during the third quarter worth $1,310,000. Finally, Millennium Management LLC grew its holdings in shares of Orchard Therapeutics by 1,740.2% during the third quarter. Millennium Management LLC now owns 411,713 shares of the company’s stock worth $947,000 after buying an additional 389,340 shares in the last quarter. 56.47% of the stock is owned by institutional investors.

About Orchard Therapeutics (Get Rating)

Orchard Therapeutics plc, a biopharmaceutical company, develops gene therapies for serious and life-threatening rare diseases in the United Kingdom, European Union, and the United States. The company's gene therapy approach seeks to transform a patient's hematopoietic stem cells into a gene-modified cellular drug product to treat the patient's disease through a single administration.

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