Polarityte (NASDAQ:PTE) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Polarityte (NASDAQ:PTE) from a sell rating to a buy rating in a research report released on Thursday, Zacks.com reports. They currently have $6.25 price objective on the stock.

According to Zacks, “PolarityTE, Inc. creates regenerative medicine and provides tissue engineering platform. It develops and obtains regulatory approval for technology which utilizes a patient’s own tissue substrates for regeneration of skin, bone, muscle, cartilage and nerves. The product pipeline comprises SkinTE, OsteoTE, AngioTE, MyoTE, CarteTE, AdiposeTE and NeuralTE. PolarityTE, Inc., formerly known as Majesco Entertainment Company, is headquatered in Salt lake City, Utah. “

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald set a $6.00 target price on HTG Molecular Diagnostics and gave the stock a buy rating in a research report on Monday, April 8th. National Securities reissued a sell rating and set a $4.00 target price on shares of Prospect Capital in a research report on Monday, May 13th. Northland Securities set a $50.00 target price on Polarityte and gave the stock a buy rating in a research report on Friday, May 10th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, HC Wainwright set a $73.00 target price on Uniqure and gave the stock a buy rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $27.28.

Polarityte stock opened at $5.64 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.55 and a current ratio of 5.59. The business has a 50-day simple moving average of $5.84. Polarityte has a 52 week low of $4.96 and a 52 week high of $30.88.

Polarityte (NASDAQ:PTE) last posted its quarterly earnings data on Friday, May 10th. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.17). The firm had revenue of $1.50 million during the quarter, compared to analyst estimates of $1.33 million. The business’s revenue for the quarter was up 49900.0% compared to the same quarter last year. Analysts anticipate that Polarityte will post -4.4 EPS for the current year.

In related news, Director Peter A. Cohen acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were bought at an average cost of $5.63 per share, with a total value of $84,450.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steve Gorlin sold 53,700 shares of Polarityte stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $5.94, for a total value of $318,978.00. The disclosure for this sale can be found here. Insiders have acquired 54,000 shares of company stock worth $293,680 over the last ninety days. Company insiders own 43.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comprehensive Portfolio Management LLC acquired a new position in shares of Polarityte in the 1st quarter worth approximately $232,000. Oppenheimer & Co. Inc. acquired a new position in shares of Polarityte in the 1st quarter worth approximately $427,000. Bank of Montreal Can acquired a new position in shares of Polarityte in the 1st quarter worth approximately $54,000. Rhumbline Advisers acquired a new position in shares of Polarityte in the 1st quarter worth approximately $132,000. Finally, Advisor Group Inc. acquired a new position in shares of Polarityte in the 1st quarter worth approximately $2,242,000. 41.58% of the stock is currently owned by institutional investors.

Polarityte Company Profile

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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