Polarityte’s (PTE) Buy Rating Reiterated at Northland Securities
Northland Securities reissued their buy rating on shares of Polarityte (NASDAQ:PTE) in a research note released on Thursday morning, AnalystRatings.com reports. They currently have a $20.00 target price on the stock.
A number of other brokerages also recently issued reports on PTE. Oppenheimer set a $14.00 price target on shares of Polarityte and gave the stock a buy rating in a report on Wednesday, August 21st. Zacks Investment Research upgraded Polarityte from a hold rating to a buy rating and set a $4.00 price objective on the stock in a report on Tuesday, November 19th. HC Wainwright reiterated a buy rating and issued a $8.00 price objective on shares of Polarityte in a research report on Wednesday, November 13th. Piper Jaffray Companies cut their target price on Polarityte from $26.00 to $6.00 and set an overweight rating for the company in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reduced their target price on Polarityte from $50.00 to $13.00 and set an overweight rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $11.75.
Shares of PTE opened at $2.83 on Thursday. Polarityte has a 12-month low of $2.10 and a 12-month high of $18.17. The firm has a 50-day moving average price of $2.98 and a 200 day moving average price of $4.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 3.62.
Hedge funds have recently made changes to their positions in the business. Voloridge Investment Management LLC acquired a new stake in shares of Polarityte in the third quarter valued at $49,000. Bernardo Wealth Planning LLC acquired a new position in Polarityte during the 2nd quarter worth about $68,000. Marshall Wace North America L.P. purchased a new position in Polarityte during the 1st quarter valued at about $73,000. Cubist Systematic Strategies LLC purchased a new position in Polarityte during the 2nd quarter valued at about $86,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Polarityte during the 2nd quarter valued at about $89,000. 32.88% of the stock is 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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