Northland Securities Reaffirms “Buy” Rating for Polarityte (PTE)

Northland Securities reaffirmed their buy rating on shares of Polarityte (NASDAQ:PTE) in a report published on Monday morning. Northland Securities currently has a $50.00 price objective on the stock.

“We anticipate shares of PTE to be up significantly today based upon the FDA’s final classification relating the July 2018 inspection of its Salt Lake City manufacturing/processing facility, with the FDA not prepared to take any further actions. We see this as removing a MAJOR bear case overhang to PTE shares. We also believe this event serves as a proxy that further validates SkiinTE’s 361 HCT/P status.”,” Northland Securities’ analyst commented.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated a buy rating and set a $65.00 target price on shares of Polarityte in a research note on Monday, January 14th. Zacks Investment Research upgraded shares of Polarityte from a sell rating to a hold rating in a research note on Friday, November 16th. ValuEngine cut shares of Polarityte from a buy rating to a hold rating in a research note on Tuesday, February 5th. Oppenheimer initiated coverage on shares of Polarityte in a research note on Tuesday, January 29th. They set an outperform rating and a $30.00 target price on the stock. Finally, Piper Jaffray Companies initiated coverage on shares of Polarityte in a research note on Thursday, December 20th. They set an overweight rating on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $37.50.

Shares of Polarityte stock opened at $15.99 on Monday. The firm has a market cap of $343.86 million, a PE ratio of -3.29 and a beta of 1.51. Polarityte has a 1-year low of $11.54 and a 1-year high of $41.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.76 and a current ratio of 13.80.

Polarityte (NASDAQ:PTE) last issued its quarterly earnings results on Monday, January 14th. The company reported ($0.96) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.02) by $0.06. The business had revenue of $1.13 million for the quarter, compared to analysts’ expectations of $0.80 million. Polarityte had a negative net margin of 4,259.44% and a negative return on equity of 258.52%. As a group, equities analysts expect that Polarityte will post -4.11 EPS for the current fiscal year.

About Polarityte

PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.

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Analyst Recommendations for Polarityte (NASDAQ:PTE)

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