Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on PolarityTE Inc (NASDAQ: PTE) yesterday and set a price target of $65. The company’s shares closed on Friday at $19.10, close to its 52-week low of $15.21.
“: We reiterate our Overweight rating and 12-month price target of $65/share on PolarityTE following new clinical outcomes that were presented at the Surgeons (ASPS) Conference in Chicago. We also provide additional insights that we learned regarding the current treatment paradigms and limitations for chronic wound and burn treatments on Page 2. Cantor Fitzgerald is hosting a call for investors on 3:00 pm ET to discuss SkinTE and the burn/chronic wound landscape with a leading plastic surgeon. Please reach out to your Cantor sales representative for additional information.”
According to TipRanks.com, Piros is a 1-star analyst with an average return of -0.6% and a 48.2% 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.
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.