H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Pulmatrix Inc (PULM) today and set a price target of $22. The company’s shares closed yesterday at $1.06, close to its 52-week low of $0.72.
Fein noted:
“Valuation and risks to achievement of target price. Our price target of $22.00/share is based on an equally-weighted composite of: (a) $25.39/share, as a 15x multiple of taxed and diluted $7.28 discounted back to FY19 at 20% (in line with the expected P/E multiple and discount rate of an early development-stage biotechnology company); and (b) an NPV of $18.67/ share (discounted cash flow analysis using a 18% discount rate and 0.5% growth rate, in line with the expected discount and growth parameters of an early development-stage biotechnology company).”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 3.5% and a 44.8% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and Proteostasis Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pulmatrix Inc with a $22 average price target.
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Based on Pulmatrix Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $4.34 million. In comparison, last year the company had a GAAP net loss of $5.22 million.
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Pulmatrix, Inc. is a clinical stage biotechnology company, which engages in the discovery and development of novel inhaled therapeutic products. The firm focuses on the prevention and treatment of respiratory diseases and infections.
