Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on PolarityTE Inc (NASDAQ: PTE) today and set a price target of $65. The company’s shares closed yesterday at $21.12.
Piros said:
“We believe that PolarityTE can revolutionize the field of regenerative medicine. We think SkinTE can achieve over $600 million revenue from the currently built-out facility, with perhaps multiples of this number when adding bone, cartilage, heart and muscle products in development. We reiterate our OW rating. 12-month price target is derived from the combined risk-adjusted NPV of potential future cash flows from the SkinTE product and an enterprise value for the follow-on product lines.”
According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -2.9% and a 49.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Currently, the analyst consensus on PolarityTE Inc is a Moderate Buy with an average price target of $65.
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Based on PolarityTE Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $17.25 million. In comparison, last year the company had a GAAP net loss of $5.3 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PTE in relation to earlier this year.
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PolarityTE, Inc. engages in the regenerative medicine and tissue engineering platform. The firm seeks to develop and obtain regulatory approval for technology that will utilize a patient’s own tissue substrates for the regeneration of skin, bone, muscle, cartilage, fat, blood vessels and nerves.
