Polarityte Inc (NASDAQ:PTE) shot up 9.6% during mid-day trading on Thursday . The company traded as high as $13.74 and last traded at $13.24. 711,749 shares traded hands during trading, an increase of 124% from the average session volume of 318,115 shares. The stock had previously closed at $12.08.

A number of brokerages recently issued reports on PTE. Evercore ISI began coverage on shares of Polarityte in a research report on Wednesday. They set an “outperform” rating and a $26.00 target price for the company. Cantor Fitzgerald set a $65.00 target price on shares of Polarityte and gave the stock a “buy” rating in a research report on Tuesday. Piper Jaffray Companies set a $30.00 target price on shares of Polarityte and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research cut shares of Polarityte from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Northland Securities reiterated a “buy” rating and set a $50.00 target price on shares of Polarityte in a research report on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Polarityte has a consensus rating of “Hold” and an average price target of $34.33.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.76 and a current ratio of 13.80. The stock has a market cap of $271.10 million, a price-to-earnings ratio of -2.72 and a beta of 1.51.

Polarityte (NASDAQ:PTE) last posted its quarterly earnings data on Monday, January 14th. The company reported ($0.96) earnings per share for the quarter, beating the 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%. As a group, equities research analysts forecast that Polarityte Inc will post -4.11 earnings per share for the current year.

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About Polarityte (NASDAQ:PTE)

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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