In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Pulmatrix Inc (NASDAQ: PULM), with a price target of $3. The company’s shares closed yesterday at $0.52, close to its 52-week low of $0.41.
Fein wrote:
“Valuation and risks. Our price target of $3.00/share is based on an equally-weighted composite of: (a) $4.52/share, as a 15x multiple of taxed and diluted $3.19 discounted back to FY18 at 30% (in line with the expected PE multiple and discount rate of an early development-stage biotechnology company); and (b) an NPV of $2.23/ 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 5.8% and a 48.4% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pulmatrix Inc with a $3 average price target.
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The company has a one-year high of $2.67 and a one-year low of $0.41. Currently, Pulmatrix Inc has an average volume of 1.46M.
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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 company focuses on the prevention and treatment of respiratory diseases and infections.
