In a report issued on September 20, Elemer Piros from Cantor Fitzgerald maintained a Buy rating on PolarityTE Inc (NASDAQ: PTE), with a price target of $65. The company’s shares closed yesterday at $21.75.
Piros noted:
“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. $65/sh price target is derived from the combined risk-adjusted NPV of the future cash flows from the SkinTE product and an enterprise value for the follow-on product lines.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -2.7% and a 50.5% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
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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.
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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.
