Polarityte (NASDAQ:PTE) Issues Quarterly Earnings Results

Polarityte (NASDAQ:PTE) posted its quarterly earnings results on Thursday. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.13, Briefing.com reports. The business had revenue of $1.32 million during the quarter, compared to analyst estimates of $1.57 million. The company’s quarterly revenue was up 312.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.74) EPS.

NASDAQ PTE traded down $0.07 on Friday, hitting $4.66. 253,608 shares of the stock were exchanged, compared to its average volume of 294,212. Polarityte has a 52-week low of $3.84 and a 52-week high of $30.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.59 and a quick ratio of 5.55. The company has a market cap of $116.94 million, a P/E ratio of -0.96 and a beta of 1.41. The business’s 50-day moving average price is $5.20.

Several research firms have issued reports on PTE. Northland Securities set a $50.00 price target on shares of Polarityte and gave the stock a “buy” rating in a research report on Friday, May 10th. ValuEngine upgraded shares of Polarityte from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Polarityte from a “sell” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Thursday, July 11th. National Securities decreased their price target on shares of Polarityte from $5.00 to $3.00 and set a “sell” rating on the stock in a research report on Monday, May 13th. Finally, Oppenheimer lowered their price objective on shares of Polarityte from $24.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $25.28.

In related news, CFO Paul Elliot Mann bought 35,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $5.33 per share, with a total value of $186,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter A. Cohen bought 15,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were bought at an average cost of $5.63 per share, with a total value of $84,450.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 54,000 shares of company stock worth $293,680. Corporate insiders own 43.30% 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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Earnings History for Polarityte (NASDAQ:PTE)

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