PAVmed (NASDAQ:PAVM) Given New $56.00 Price Target at Ascendiant Capital Markets

PAVmed (NASDAQ:PAVM) had its price objective cut by analysts at Ascendiant Capital Markets from $65.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (d)” rating on shares of PAVmed in a report on Tuesday, April 21st. Wall Street Zen upgraded PAVmed from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.00.

PAVmed Price Performance

Shares of PAVM opened at $5.45 on Monday. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.70. PAVmed has a 1 year low of $5.45 and a 1 year high of $28.44. The stock has a market cap of $5.43 million, a P/E ratio of -0.15 and a beta of 0.58. The stock’s 50-day moving average price is $7.93 and its two-hundred day moving average price is $8.98.

PAVmed (NASDAQ:PAVM) last issued its earnings results on Friday, May 15th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.48). PAVmed had a negative return on equity of 146.19% and a negative net margin of 21,914.12%.The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.07 million. On average, equities analysts predict that PAVmed will post -3.19 earnings per share for the current year.

Hedge Funds Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. Geode Capital Management LLC boosted its position in PAVmed Inc. (NASDAQ:PAVM) by 74.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 168,832 shares of the company’s stock after buying an additional 72,258 shares during the quarter. Geode Capital Management LLC owned approximately 17.23% of PAVmed worth $40,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 19.93% of the company’s stock.

PAVmed Company Profile

PAVmed Inc is a clinical-stage medical technology company focused on acquiring, developing and commercializing innovative medical devices aimed primarily at gastrointestinal endoscopy and related therapeutic areas. Its portfolio includes FDA-cleared products such as EsoFLIP® Distensibility System for the treatment of esophageal strictures and MUSE™ (Medigus Ultrasonic Surgical Endostapler) for endoscopic fundoplication in gastroesophageal reflux disease (GERD). In addition to its gastrointestinal franchise, PAVmed is advancing early-stage programs targeting indications in oncology, urology and dermatology.

Founded in 2012, PAVmed has built its pipeline through internal research and development as well as strategic collaborations and acquisitions.