Polarityte (NASDAQ:PTE) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright started coverage on shares of Polarityte (NASDAQ:PTE) in a report released on Monday, AnalystRatings.com reports. The firm issued a buy rating and a $8.00 price target on the stock.

“We are initiating coverage of PTE with 12-month price target of $8.00 per share. We derive our price target based on an NPV analysis of projected future revenues from SkinTE through 2029, assuming a 12% discount rate and a 1% terminal growth rate.”,” HC Wainwright’s analyst wrote.

Other research analysts have also recently issued reports about the stock. Piper Jaffray Companies set a $75.00 price objective on shares of Biohaven Pharmaceutical and gave the stock a buy rating in a research report on Monday, March 18th. National Securities restated a sell rating and issued a $4.00 price objective on shares of Prospect Capital in a research report on Monday, May 13th. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Zacks Investment Research restated a hold rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. Finally, Evercore ISI began coverage on shares of Polarityte in a research report on Wednesday, March 20th. They issued an outperform rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $27.28.

Shares of PTE stock traded down $0.02 during trading on Monday, hitting $5.59. The company had a trading volume of 84,400 shares, compared to its average volume of 346,670. The company has a quick ratio of 5.55, a current ratio of 5.59 and a debt-to-equity ratio of 0.07. The business’s 50-day simple moving average is $5.88. The firm has a market cap of $136.47 million, a PE ratio of -1.15 and a beta of 1.49. Polarityte has a 52 week low of $4.96 and a 52 week high of $30.88.

Polarityte (NASDAQ:PTE) last posted its quarterly earnings data on Friday, May 10th. The company reported ($1.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.01) by ($0.17). The company had revenue of $1.50 million for the quarter, compared to the consensus estimate of $1.33 million. The company’s revenue was up 49900.0% compared to the same quarter last year. On average, research analysts anticipate that Polarityte will post -4.4 EPS for the current fiscal year.

In other Polarityte news, Director Steve Gorlin sold 53,700 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $5.94, for a total transaction of $318,978.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Elliot Mann purchased 35,000 shares of Polarityte stock in a transaction on Wednesday, June 5th. The shares were acquired at an average price of $5.33 per share, for a total transaction of $186,550.00. The disclosure for this purchase can be found here. Insiders have acquired 54,000 shares of company stock worth $293,680 over the last quarter. Company insiders own 43.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PTE. Glassman Wealth Services bought a new position in Polarityte during the first quarter valued at approximately $45,000. Bank of Montreal Can bought a new position in Polarityte during the first quarter valued at approximately $54,000. Marshall Wace North America L.P. bought a new position in Polarityte during the first quarter valued at approximately $73,000. Marshall Wace LLP bought a new position in Polarityte during the first quarter valued at approximately $126,000. Finally, Rhumbline Advisers bought a new position in Polarityte during the first quarter valued at approximately $132,000. Institutional investors and hedge funds own 41.58% of the company’s stock.

Polarityte Company Profile

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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