Polarityte (NASDAQ:PTE) Earns “Buy” Rating from Northland Securities

Polarityte (NASDAQ:PTE)‘s stock had its “buy” rating restated by investment analysts at Northland Securities in a report released on Thursday, AnalystRatings.com reports. They currently have a $20.00 price objective on the stock.

PTE has been the topic of several other reports. Piper Jaffray Companies dropped their price target on Polarityte from $26.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Polarityte in a research report on Wednesday, November 13th. Oppenheimer set a $14.00 target price on Polarityte and gave the company a “buy” rating in a research note on Wednesday, August 21st. Zacks Investment Research raised Polarityte from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald dropped their target price on Polarityte from $50.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Polarityte presently has a consensus rating of “Buy” and an average target price of $11.75.

Shares of NASDAQ:PTE opened at $2.97 on Thursday. The company’s fifty day moving average is $3.00 and its two-hundred day moving average is $4.43. The company has a quick ratio of 3.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.07. Polarityte has a 12-month low of $2.10 and a 12-month high of $18.17. The company has a market cap of $87.43 million, a P/E ratio of -0.61 and a beta of 1.55.

Polarityte (NASDAQ:PTE) last released its earnings results on Tuesday, November 12th. The company reported ($0.87) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.01) by $0.14. The business had revenue of $1.40 million during the quarter, compared to analysts’ expectations of $1.41 million. During the same quarter in the previous year, the company earned ($0.86) EPS. Equities research analysts anticipate that Polarityte will post -3.85 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of PTE. Marshall Wace LLP bought a new stake in shares of Polarityte during the 1st quarter worth about $126,000. Marshall Wace North America L.P. acquired a new position in Polarityte during the first quarter valued at approximately $73,000. FMR LLC acquired a new position in Polarityte during the first quarter valued at approximately $24,884,000. GSA Capital Partners LLP grew its holdings in Polarityte by 415.8% during the second quarter. GSA Capital Partners LLP now owns 69,927 shares of the company’s stock valued at $399,000 after purchasing an additional 56,370 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Polarityte by 166.1% in the second quarter. Wells Fargo & Company MN now owns 20,233 shares of the company’s stock valued at $116,000 after purchasing an additional 12,629 shares during the period. Institutional investors and hedge funds own 32.88% 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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