H.C. Wainwright Maintains a Hold Rating on PolarityTE (PTE)


In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Hold rating on PolarityTE (PTE). The company’s shares closed last Tuesday at $1.57, close to its 52-week low of $0.78.

According to TipRanks.com, Ramakanth is a 1-star analyst with an average return of -1.0% and a 35.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals, Corvus Pharmaceuticals, and Cellectar Biosciences.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PolarityTE with a $3.00 average price target, implying a 100.0% upside from current levels. In a report issued on July 24, Oppenheimer also maintained a Hold rating on the stock.

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Based on PolarityTE’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $933K and GAAP net loss of $13.04 million. In comparison, last year the company earned revenue of $1.47 million and had a GAAP net loss of $25.57 million.

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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. The company was founded on May 8, 1998 and is headquartered in Salt Lake City, UT.

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