Polarityte Inc (NASDAQ:PTE) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $11.75.
A number of research analysts have recently weighed in on PTE shares. Oppenheimer set a $14.00 target price on shares of Polarityte and gave the company a “buy” rating in a research report on Wednesday, August 21st. Zacks Investment Research raised shares of Polarityte from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Tuesday, November 19th. Northland Securities set a $20.00 target price on shares of Polarityte and gave the company a “buy” rating in a research report on Friday, October 11th. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Polarityte in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reduced their target price on shares of Polarityte from $50.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 11th.
Hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP raised its holdings in Polarityte by 415.8% during the 2nd quarter. GSA Capital Partners LLP now owns 69,927 shares of the company’s stock valued at $399,000 after acquiring an additional 56,370 shares during the period. BlackRock Inc. increased its holdings in shares of Polarityte by 24.9% in the second quarter. BlackRock Inc. now owns 988,361 shares of the company’s stock worth $5,634,000 after purchasing an additional 196,956 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Polarityte by 48.8% in the second quarter. Bank of New York Mellon Corp now owns 47,889 shares of the company’s stock worth $273,000 after purchasing an additional 15,707 shares during the period. Comprehensive Portfolio Management LLC grew its position in Polarityte by 29.9% in the second quarter. Comprehensive Portfolio Management LLC now owns 28,200 shares of the company’s stock worth $161,000 after acquiring an additional 6,498 shares in the last quarter. Finally, Bernardo Wealth Planning LLC grew its position in Polarityte by 91.7% in the third quarter. Bernardo Wealth Planning LLC now owns 23,000 shares of the company’s stock worth $74,000 after acquiring an additional 11,000 shares in the last quarter. 32.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Polarityte stock traded down $0.04 on Monday, reaching $3.20. 127,232 shares of the company traded hands, compared to its average volume of 327,689. Polarityte has a 52 week low of $2.10 and a 52 week high of $18.17. The company has a 50 day moving average of $2.99 and a 200 day moving average of $4.48. The firm has a market capitalization of $87.43 million, a PE ratio of -0.66 and a beta of 1.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 3.62.
Polarityte (NASDAQ:PTE) last released its earnings results on Tuesday, November 12th. The company reported ($0.87) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.01) by $0.14. The company had revenue of $1.40 million for the quarter, compared to the consensus estimate of $1.41 million. During the same period in the prior year, the company earned ($0.86) earnings per share. As a group, analysts anticipate that Polarityte will post -3.85 earnings per share for the current year.
PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.
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