In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on PolarityTE Inc (PTE), with a price target of $65. The company’s shares closed yesterday at $13.45, close to its 52-week low of $11.54.
Piros commented:
“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 -13.7% and a 30.5% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.
PolarityTE Inc has an analyst consensus of Moderate Buy, with a price target consensus of $65.
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The company has a one-year high of $41.22 and a one-year low of $11.54. Currently, PolarityTE Inc has an average volume of 376K.
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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.
