Barclays Issues Pessimistic Forecast for Organon & Co. (NYSE:OGN) Stock Price

Organon & Co. (NYSE:OGN) had its target price cut by stock analysts at Barclays from $26.00 to $24.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 50.30% from the company’s previous close.

A number of other research firms have also recently weighed in on OGN. Morgan Stanley decreased their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Organon & Co. has an average rating of “Hold” and an average target price of $20.80.

Organon & Co. Price Performance

NYSE OGN traded down $0.35 during midday trading on Friday, hitting $15.97. The company had a trading volume of 476,576 shares, compared to its average volume of 2,688,068. The company has a market capitalization of $4.11 billion, a PE ratio of 3.17, a P/E/G ratio of 0.83 and a beta of 0.76. The firm has a 50-day moving average price of $15.34 and a 200-day moving average price of $17.53. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. As a group, analysts anticipate that Organon & Co. will post 3.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Organon & Co.

A number of hedge funds have recently bought and sold shares of OGN. Prospera Private Wealth LLC acquired a new stake in Organon & Co. during the 3rd quarter worth about $25,000. Horizon Bancorp Inc. IN grew its stake in Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after purchasing an additional 1,585 shares during the period. Millstone Evans Group LLC acquired a new stake in Organon & Co. during the fourth quarter worth approximately $29,000. Larson Financial Group LLC increased its holdings in Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock worth $33,000 after purchasing an additional 1,734 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its stake in Organon & Co. by 5,646.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after buying an additional 2,315 shares during the period. Institutional investors own 77.43% of the company’s stock.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.