Polarityte (NASDAQ:PTE) Lifted to “Buy” at Zacks Investment Research

Polarityte (NASDAQ:PTE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm currently has a $4.00 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 37.93% from the company’s current price.

According to Zacks, “PolarityTE, Inc. creates regenerative medicine and provides tissue engineering platform. It develops and obtains regulatory approval for technology which utilizes a patient’s own tissue substrates for regeneration of skin, bone, muscle, cartilage and nerves. The product pipeline comprises SkinTE, OsteoTE, AngioTE, MyoTE, CarteTE, AdiposeTE and NeuralTE. PolarityTE, Inc., formerly known as Majesco Entertainment Company, is headquatered in Salt lake City, Utah. “

A number of other equities analysts also recently commented on the stock. Northland Securities set a $50.00 price objective on shares of Polarityte and gave the stock a “buy” rating in a research note on Monday, August 26th. Cantor Fitzgerald set a $50.00 price target on Polarityte and gave the stock a “buy” rating in a research report on Monday, September 23rd. HC Wainwright began coverage on Polarityte in a research report on Monday, July 8th. They set a “buy” rating and a $8.00 price target on the stock. ValuEngine raised Polarityte from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Finally, Oppenheimer set a $14.00 price target on Polarityte and gave the stock a “buy” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Polarityte has an average rating of “Buy” and a consensus price target of $23.13.



NASDAQ:PTE traded up $0.06 during trading hours on Wednesday, reaching $2.90. The company’s stock had a trading volume of 442 shares, compared to its average volume of 345,500. The company has a market capitalization of $79.02 million, a P/E ratio of -0.60 and a beta of 1.45. Polarityte has a 12 month low of $2.81 and a 12 month high of $18.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.68 and a current ratio of 6.72. The stock has a 50 day moving average price of $3.96 and a two-hundred day moving average price of $6.25.

Polarityte (NASDAQ:PTE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.13. The business had revenue of $1.32 million during the quarter, compared to the consensus estimate of $1.57 million. The business’s quarterly revenue was up 312.5% on a year-over-year basis. During the same period last year, the firm earned ($0.74) EPS. As a group, analysts predict that Polarityte will post -4.14 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of PTE. GSA Capital Partners LLP grew its holdings in shares of 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 buying an additional 56,370 shares during the last quarter. Comprehensive Portfolio Management LLC grew its holdings in shares of Polarityte by 29.9% during the second quarter. Comprehensive Portfolio Management LLC now owns 28,200 shares of the company’s stock valued at $161,000 after buying an additional 6,498 shares during the last quarter. Bernardo Wealth Planning LLC purchased a new stake in shares of Polarityte during the second quarter valued at $68,000. Cheyne Capital Management UK LLP grew its holdings in shares of Polarityte by 10.5% during the second quarter. Cheyne Capital Management UK LLP now owns 109,098 shares of the company’s stock valued at $622,000 after buying an additional 10,400 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in shares of Polarityte by 178.6% during the second quarter. Marshall Wace North America L.P. now owns 19,020 shares of the company’s stock valued at $109,000 after buying an additional 12,194 shares during the last quarter. 41.51% of the stock is currently owned by institutional investors and hedge funds.

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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