Cantor Fitzgerald Analysts Reduce Earnings Estimates for Polarityte Inc (PTE)

Polarityte Inc (NASDAQ:PTE) – Equities research analysts at Cantor Fitzgerald dropped their FY2019 EPS estimates for Polarityte in a research report issued on Wednesday, March 20th, according to Zacks Investment Research. Cantor Fitzgerald analyst E. Piros now expects that the company will post earnings per share of ($3.94) for the year, down from their previous forecast of ($3.93). Cantor Fitzgerald currently has a “Buy” rating and a $65.00 price target on the stock.

A number of other research firms have also issued reports on PTE. Zacks Investment Research lowered shares of Polarityte from a “hold” rating to a “sell” rating in a report on Friday, February 1st. National Securities began coverage on shares of Polarityte in a report on Monday, January 28th. They set a “sell” rating and a $5.00 target price on the stock. ValuEngine lowered shares of Polarityte from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Oppenheimer began coverage on shares of Polarityte in a report on Tuesday, January 29th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Northland Securities began coverage on shares of Polarityte in a report on Monday, January 28th. They set an “outperform” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $34.33.

Polarityte stock traded down $0.20 during mid-day trading on Friday, reaching $8.61. 424,647 shares of the company’s stock were exchanged, compared to its average volume of 345,313. The firm has a market cap of $190.74 million, a PE ratio of -1.77 and a beta of 1.48. Polarityte has a twelve month low of $8.46 and a twelve month high of $41.22. The company has a quick ratio of 13.76, a current ratio of 13.80 and a debt-to-equity ratio of 0.01.

Polarityte (NASDAQ:PTE) last posted its quarterly earnings data on Monday, January 14th. The company reported ($0.96) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.02) by $0.06. The firm had revenue of $1.13 million during the quarter, compared to analysts’ expectations of $0.80 million. Polarityte had a negative net margin of 4,259.44% and a negative return on equity of 258.52%.

A hedge fund recently bought a new stake in Polarityte stock. Comprehensive Portfolio Management LLC acquired a new stake in Polarityte Inc (NASDAQ:PTE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,702 shares of the company’s stock, valued at approximately $232,000. Comprehensive Portfolio Management LLC owned approximately 0.10% of Polarityte at the end of the most recent quarter. Institutional investors and hedge funds own 54.85% of the company’s stock.

About Polarityte

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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Earnings History and Estimates for Polarityte (NASDAQ:PTE)

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