In a report released today, Carl Byrnes from Northland Securities maintained a Buy rating on PolarityTE Inc (PTE), with a price target of $50. The company’s shares closed yesterday at $6.91, close to its 52-week low of $6.88.
Byrnes commented:
“We note that 1 patient, who had previously undergone foot reconstruction, developed an infection around a metal implant required surgical intervention that compromised the application of SkinTE. As the latter was deemed unrelated to SkinTE, we view the pilot study as achieving 100% success (i.e., 10/10) among those that completed the protocol. These results were presented at the 2019, w/ the study receiving Special Recognition for being one of the top abstracts accepted at the conference, and at the May 7-11th.”
According to TipRanks.com, Byrnes has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.8% and a 25.5% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Aridis Pharmaceuticals Inc, Adamas Pharmaceuticals, and Flexion Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for PolarityTE Inc with a $41.25 average price target, implying a 497.0% upside from current levels. In a report issued on May 10, Piper Jaffray also maintained a Buy rating on the stock.
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The company has a one-year high of $41.22 and a one-year low of $6.88. Currently, PolarityTE Inc has an average volume of 420.1K.
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PolarityTE, Inc. is a commercial-stage biotechnology and regenerative biomaterials company, which focuses on discovering, designing and developing regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering and material sciences. Its products include SkinTE, OsteoTE and Real Time Assistant.
