Polarityte (NASDAQ:PTE) Stock Rating Upgraded by Zacks Investment Research

Polarityte (NASDAQ:PTE) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage presently has a $6.25 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.82% from the stock’s current price.

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 analysts have also issued research reports about the company. Northland Securities set a $50.00 price objective on Polarityte and gave the stock a “buy” rating in a research note on Friday, May 10th. Cantor Fitzgerald set a $6.00 price objective on HTG Molecular Diagnostics and gave the stock a “buy” rating in a research note on Monday, April 8th. HC Wainwright set a $73.00 price objective on Uniqure and gave the stock a “buy” rating in a research note on Monday, July 8th. Evercore ISI began coverage on Polarityte in a research note on Wednesday, March 20th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $27.28.

Polarityte stock opened at $5.64 on Thursday. The business’s fifty day moving average is $5.84. Polarityte has a one year low of $4.96 and a one year high of $30.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.55 and a current ratio of 5.59.

Polarityte (NASDAQ:PTE) last posted its quarterly earnings data on Friday, May 10th. The company reported ($1.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.01) by ($0.17). The business had revenue of $1.50 million during the quarter, compared to analysts’ expectations of $1.33 million. The business’s revenue for the quarter was up 49900.0% on a year-over-year basis. Equities research analysts expect that Polarityte will post -4.4 earnings per share for the current fiscal year.

In other Polarityte news, Director Peter A. Cohen bought 15,000 shares of Polarityte stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of $5.63 per share, with a total value of $84,450.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steve Gorlin sold 53,700 shares of the firm’s stock in a transaction 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. In the last ninety days, insiders acquired 54,000 shares of company stock worth $293,680. Company insiders own 43.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cheyne Capital Management UK LLP acquired a new stake in shares of Polarityte during the 1st quarter valued at $1,056,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Polarityte during the 1st quarter valued at $427,000. Advisor Group Inc. acquired a new stake in shares of Polarityte during the 1st quarter valued at $2,242,000. Bank of Montreal Can acquired a new stake in shares of Polarityte during the 1st quarter valued at $54,000. Finally, Rhumbline Advisers acquired a new stake in shares of Polarityte during the 1st quarter valued at $132,000. 41.58% of the stock is currently owned by institutional investors.

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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