Polarityte (NASDAQ:PTE) Rating Reiterated by Cantor Fitzgerald

Polarityte (NASDAQ:PTE)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a note issued to investors on Friday, Zacks.com reports. Cantor Fitzgerald also issued estimates for Polarityte’s FY2019 earnings at ($3.73) EPS and FY2020 earnings at ($2.82) EPS.

Other equities analysts have also issued research reports about the stock. HC Wainwright initiated coverage on shares of Polarityte in a research report on Monday, July 8th. They set a “buy” rating and a $8.00 price objective for the company. Oppenheimer set a $14.00 price objective on shares of Polarityte and gave the company a “buy” rating in a research report on Wednesday, August 21st. Zacks Investment Research lowered shares of Polarityte from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded shares of Polarityte from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Finally, Northland Securities set a $20.00 price objective on shares of Polarityte and gave the company a “buy” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Polarityte has an average rating of “Buy” and an average price target of $19.38.

Shares of NASDAQ:PTE opened at $2.81 on Friday. 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 firm has a fifty day moving average price of $3.59 and a 200 day moving average price of $5.69. Polarityte has a fifty-two week low of $2.71 and a fifty-two week high of $18.17. The firm has a market cap of $72.83 million, a price-to-earnings ratio of -0.58 and a beta of 1.45.

Polarityte (NASDAQ:PTE) last issued its earnings results on Thursday, August 8th. The company reported ($0.92) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.05) by $0.13. The company had revenue of $1.32 million for the quarter, compared to the consensus estimate of $1.57 million. During the same quarter in the prior year, the company posted ($0.74) EPS. Polarityte’s revenue was up 312.5% compared to the same quarter last year. As a group, research analysts predict that Polarityte will post -4.24 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in PTE. FMR LLC bought a new stake in shares of Polarityte in the 1st quarter worth about $24,884,000. William Blair Investment Management LLC bought a new stake in shares of Polarityte in the 2nd quarter worth about $2,835,000. BlackRock Inc. lifted its holdings in shares of Polarityte by 24.9% in the 2nd quarter. BlackRock Inc. now owns 988,361 shares of the company’s stock worth $5,634,000 after acquiring an additional 196,956 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Polarityte by 22.1% in the 2nd quarter. Vanguard Group Inc. now owns 632,559 shares of the company’s stock worth $3,606,000 after acquiring an additional 114,413 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Polarityte in the 2nd quarter worth about $353,000. Hedge funds and other institutional investors own 41.35% 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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