H.C. Wainwright Thinks Pulmatrix Inc’s Stock is Going to Recover

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Pulmatrix Inc (PULMResearch Report) today and set a price target of $10. The company’s shares closed yesterday at $0.85, close to its 52-week low of $0.72.

Fein noted:

“We continue to assert that an inhaled formulation of itraconazole could offer patients improved respiratory distribution with lower systemic exposure than the oral itraconazole alternative. While Pulmazole can offer direct delivery of itraconazole inhaled dry powder to the lung, limitations to oral itraconazole include poor bioavailability, pharmacokinetic variability, drug interactions, and possible GI and cardiac related side effects. As noted, the company entered into a definitive agreement, in a subsidiary of Cipla Limited (NSE: CIPLA; not rated), providing a $22M upfront payment to Pulmatrix for the co- development and commercialization of Pulmazole.”

According to TipRanks.com, Fein is a 3-star analyst with an average return of 1.1% and a 40.3% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and ACADIA Pharmaceuticals Inc.

Pulmatrix Inc has an analyst consensus of Moderate Buy, with a price target consensus of $22.

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Based on Pulmatrix Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $7.84 million. In comparison, last year the company had a GAAP net loss of $6.19 million.

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Pulmatrix, Inc. is a clinical stage biotechnology company, which engages in the discovery and development of novel inhaled therapeutic products. The firm focuses on the prevention and treatment of respiratory diseases and infections.