Zacks: Brokerages Set $4.83 Target Price for Pulmatrix Inc (PULM)

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Shares of Pulmatrix Inc (NASDAQ:PULM) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12-month consensus price target of $4.83 for the company and are expecting that the company will post ($0.19) EPS for the current quarter, according to Zacks. Zacks has also assigned Pulmatrix an industry rank of 89 out of 255 based on the ratings given to related companies.

Shares of PULM stock traded down $0.01 on Monday, hitting $0.43. The stock had a trading volume of 9,748 shares, compared to its average volume of 663,233. Pulmatrix has a twelve month low of $0.28 and a twelve month high of $2.67. The firm has a market capitalization of $20.65 million, a price-to-earnings ratio of -0.46 and a beta of 2.67.

Pulmatrix (NASDAQ:PULM) last announced its quarterly earnings results on Friday, August 3rd. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.04. sell-side analysts predict that Pulmatrix will post -0.69 earnings per share for the current year.

A hedge fund recently bought a new stake in Pulmatrix stock. Sabby Management LLC acquired a new stake in Pulmatrix Inc (NASDAQ:PULM) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 1,087,507 shares of the biotechnology company’s stock, valued at approximately $554,000. Sabby Management LLC owned approximately 2.70% of Pulmatrix at the end of the most recent quarter. Hedge funds and other institutional investors own 12.56% of the company’s stock.

About Pulmatrix

Pulmatrix, Inc, a clinical stage biopharmaceutical company, develops inhaled therapies to address serious pulmonary diseases using its inhaled Small Particles Easily Respirable and Emitted (iSPERSE) technology. Its proprietary product pipeline focuses on advancing treatments for serious lung diseases, including Pulmazole, an inhaled anti-fungal for patients with allergic bronchopulmonary aspergillosis; and PUR1800, kinase inhibitor for patients with obstructive lung diseases, including asthma and chronic obstructive pulmonary disease (COPD).

See Also: Hedge Funds

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