In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on PolarityTE Inc (NASDAQ: PTE), with a price target of $65. The company’s shares closed on Friday at $14.16, close to its 52-week low of $14.
Piros noted:
“. We are reiterating our Overweight rating and $65 12-month price target on PolarityTE. Recently, Dr. Nikolai Sopko, CSO and VP of R&D at PolarityTE, presented clinical outcomes data with Houston, TX. Dr. Sopko presented different clinical applications of SkinTE, highlighting the treatment progression and similarities with native skin.”
According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -6.1% and a 40.2% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PolarityTE Inc with a $65 average price target.
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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.
