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

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

A number of other analysts have also weighed in on the company. Wall Street Zen upgraded PAVmed from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings restated a “sell (d)” rating on shares of PAVmed in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.00.

PAVmed Stock Performance

PAVmed stock opened at $5.45 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a fifty day moving average price of $7.93 and a two-hundred day moving average price of $8.98. PAVmed has a 52-week low of $5.45 and a 52-week high of $28.44. The firm has a market capitalization of $5.43 million, a P/E ratio of -0.15 and a beta of 0.58.

PAVmed (NASDAQ:PAVM) last released its quarterly earnings data on Friday, May 15th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $0.07 million. As a group, analysts anticipate that PAVmed will post -3.19 EPS for the current fiscal 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 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,832 shares of the company’s stock after acquiring an additional 72,258 shares during the period. Geode Capital Management LLC owned 17.23% of PAVmed worth $40,000 at the end of the most recent quarter. Institutional investors and hedge funds own 19.93% of the company’s stock.

About PAVmed

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.