D. Boral Capital Reaffirms “Buy” Rating for Pulmonx (NASDAQ:LUNG)

Pulmonx (NASDAQ:LUNG)‘s stock had its “buy” rating reiterated by research analysts at D. Boral Capital in a research note issued on Thursday,Benzinga reports. They presently have a $17.00 price objective on the stock. D. Boral Capital’s target price points to a potential upside of 350.93% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Morgan Stanley began coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued an “equal weight” rating for the company. Citigroup assumed coverage on Pulmonx in a research report on Monday, March 10th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group assumed coverage on Pulmonx in a report on Monday, March 10th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.07.

Pulmonx Stock Performance

NASDAQ:LUNG opened at $3.77 on Thursday. The company has a market capitalization of $151.73 million, a P/E ratio of -2.62 and a beta of 0.61. The business has a fifty day simple moving average of $6.43 and a two-hundred day simple moving average of $6.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. Pulmonx has a 1 year low of $3.61 and a 1 year high of $10.01.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. The business had revenue of $22.54 million for the quarter, compared to analysts’ expectations of $22.03 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. On average, analysts expect that Pulmonx will post -1.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Geoffrey Beran Rose sold 5,779 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $7.13, for a total value of $41,204.27. Following the transaction, the insider now owns 285,278 shares of the company’s stock, valued at $2,034,032.14. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mehul Joshi sold 14,384 shares of Pulmonx stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $7.12, for a total value of $102,414.08. Following the sale, the chief financial officer now directly owns 113,986 shares of the company’s stock, valued at approximately $811,580.32. This trade represents a 11.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,660 shares of company stock worth $1,128,484 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pulmonx

Large investors have recently modified their holdings of the company. Deerfield Management Company L.P. Series C bought a new position in Pulmonx during the fourth quarter valued at approximately $10,421,000. Altium Capital Management LLC grew its holdings in shares of Pulmonx by 63.0% during the 4th quarter. Altium Capital Management LLC now owns 815,000 shares of the company’s stock valued at $5,534,000 after purchasing an additional 315,000 shares during the last quarter. Norges Bank purchased a new position in Pulmonx in the 4th quarter worth $1,027,000. Mercer Global Advisors Inc. ADV bought a new stake in Pulmonx in the fourth quarter worth $557,000. Finally, Rock Springs Capital Management LP boosted its position in Pulmonx by 11.7% during the fourth quarter. Rock Springs Capital Management LP now owns 772,151 shares of the company’s stock valued at $5,243,000 after buying an additional 80,851 shares during the period. 91.04% of the stock is owned by hedge funds and other institutional investors.

Pulmonx Company Profile

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.