HC Wainwright Begins Coverage on Polarityte (NASDAQ:PTE)

HC Wainwright began coverage on shares of Polarityte (NASDAQ:PTE) in a report issued on Monday, AnalystRatings.com reports. The brokerage issued a buy rating and a $8.00 price objective 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 commented.

Several other equities research analysts have also recently commented on PTE. Northland Securities set a $50.00 price target on Polarityte and gave the company a buy rating in a research note on Friday, May 10th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. National Securities reaffirmed a sell rating and set a $4.00 target price on shares of Prospect Capital in a research report on Monday, May 13th. Evercore ISI assumed coverage on Polarityte in a research report on Wednesday, March 20th. They set an outperform rating and a $26.00 target price for the company. Finally, Piper Jaffray Companies set a $75.00 target price on Biohaven Pharmaceutical and gave the stock a buy rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $27.28.



Shares of NASDAQ PTE opened at $5.59 on Monday. The company has a market cap of $138.69 million, a PE ratio of -1.15 and a beta of 1.48. The firm has a 50 day moving average price of $5.86. Polarityte has a 52 week low of $4.96 and a 52 week high of $30.88. The company has a current ratio of 5.59, a quick ratio of 5.55 and a debt-to-equity ratio of 0.07.

Polarityte (NASDAQ:PTE) last announced its quarterly earnings results on Friday, May 10th. The company reported ($1.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.01) by ($0.17). The company had revenue of $1.50 million during the quarter, compared to analyst estimates of $1.33 million. Polarityte’s revenue was up 49900.0% on a year-over-year basis. Analysts predict 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 company’s stock in a transaction that occurred on Monday, June 10th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. 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. Insiders have acquired 54,000 shares of company stock valued at $293,680 in the last ninety days. Company insiders own 43.30% of the company’s stock.

Several hedge funds have recently modified their holdings of PTE. FMR LLC acquired a new position in shares of Polarityte during the first quarter worth approximately $24,884,000. Advisor Group Inc. acquired a new position in shares of Polarityte during the first quarter worth approximately $2,242,000. Cheyne Capital Management UK LLP acquired a new position in shares of Polarityte during the first quarter worth approximately $1,056,000. Oppenheimer & Co. Inc. acquired a new position in shares of Polarityte during the first quarter worth approximately $427,000. Finally, Comprehensive Portfolio Management LLC acquired a new position in shares of Polarityte during the first quarter worth approximately $232,000. Institutional investors 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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