Polarityte Inc (NASDAQ:PTE) – Equities research analysts at Oppenheimer lifted their Q3 2020 earnings per share estimates for Polarityte in a research note issued on Monday, September 14th. Oppenheimer analyst K. Degeeter now forecasts that the company will post earnings of ($0.20) per share for the quarter, up from their prior forecast of ($0.21). Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Polarityte’s FY2021 earnings at ($0.76) EPS.

Polarityte (NASDAQ:PTE) last issued its earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.07. Polarityte had a negative return on equity of 179.96% and a negative net margin of 1,152.56%. The business had revenue of $2.27 million during the quarter, compared to analyst estimates of $0.85 million. During the same quarter in the previous year, the firm earned ($0.92) EPS.

Several other equities research analysts have also commented on PTE. Northland Securities reaffirmed a “buy” rating and set a $3.00 price target on shares of Polarityte in a research report on Friday, July 24th. Zacks Investment Research lowered shares of Polarityte from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $3.96.

Shares of NASDAQ:PTE opened at $1.11 on Wednesday. Polarityte has a fifty-two week low of $0.78 and a fifty-two week high of $5.08. The firm has a market cap of $43.00 million, a price-to-earnings ratio of -0.47 and a beta of 1.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.80 and a current ratio of 3.83. The business has a 50-day simple moving average of $1.34 and a two-hundred day simple moving average of $1.19.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Polarityte by 17.6% in the 1st quarter. BlackRock Inc. now owns 1,265,208 shares of the company’s stock worth $1,367,000 after purchasing an additional 189,141 shares during the period. United Capital Financial Advisers LLC bought a new position in Polarityte in the 1st quarter worth approximately $54,000. Wells Fargo & Company MN boosted its stake in Polarityte by 408.9% in the 1st quarter. Wells Fargo & Company MN now owns 38,608 shares of the company’s stock worth $42,000 after purchasing an additional 31,022 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Polarityte by 42.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 76,632 shares of the company’s stock worth $83,000 after purchasing an additional 22,963 shares during the period. Finally, State Street Corp boosted its stake in Polarityte by 76.0% in the 1st quarter. State Street Corp now owns 312,888 shares of the company’s stock worth $338,000 after purchasing an additional 135,155 shares during the period. 17.26% 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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Earnings History and Estimates for Polarityte (NASDAQ:PTE)

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