UPDATE: Evercore ISI Starts PolarityTE (PTE) at Outperform
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(Updated - March 21, 2019 8:07 AM EDT)
(updated to add analyst comment)
Evercore ISI analyst Josh Schimmer initiates coverage on PolarityTE (NASDAQ: PTE) with a Outperform rating and a price target of $26.00.
The analyst comments "Our impression after extensive diligence is that SkinTE offers a differentiated therapy for the large wound and burn care market. Current valuation implies only modest penetration, so assuming PTE can execute on the commercial launch upside to shares should be substantial. Drivers of SkinTE adoption include formulary access, education, trialing, and generation of data which are all in progress—these efforts should prime the market for 2H19/beyond (next few months of sales may still be sluggish)."
Shares of PolarityTE closed at $12.52 yesterday.
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