Northland Securities Remains a Buy on PolarityTE (PTE)

By Jason Carr

Northland Securities analyst Carl Byrnes maintained a Buy rating on PolarityTE (PTEResearch Report) today and set a price target of $20.00. The company’s shares closed last Monday at $2.97, close to its 52-week low of $2.10.

According to TipRanks.com, Byrnes is ranked 0 out of 5 stars with an average return of -9.4% and a 38.1% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Adamas Pharmaceuticals, Opiant Pharmaceuticals, and Aridis Pharmaceuticals.

PolarityTE has an analyst consensus of Strong Buy, with a price target consensus of $11.75.

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Based on PolarityTE’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $22.98 million. In comparison, last year the company had a GAAP net loss of $22.49 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTE in relation to earlier this year.

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PolarityTE, Inc. is a commercial-stage biotechnology and regenerative biomaterials company, which focuses on discovering, designing and developing regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering and material sciences. Its products include SkinTE, OsteoTE and Real Time Assistant.