Analysts Set Pulmonx Corporation (NASDAQ:LUNG) Price Target at $5.58

Shares of Pulmonx Corporation (NASDAQ:LUNG) have been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $5.5833.

A number of analysts have recently weighed in on LUNG shares. Wall Street Zen cut Pulmonx from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Canaccord Genuity Group reduced their target price on Pulmonx from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, D. Boral Capital restated a “buy” rating and issued a $14.00 target price on shares of Pulmonx in a research note on Thursday, April 30th.

Pulmonx Stock Down 1.8%

Shares of NASDAQ LUNG opened at $1.65 on Wednesday. The company has a current ratio of 4.91, a quick ratio of 4.04 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $69.70 million, a PE ratio of -1.27 and a beta of 0.18. Pulmonx has a 12-month low of $1.13 and a 12-month high of $3.88. The stock’s fifty day simple moving average is $1.36 and its two-hundred day simple moving average is $1.67.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.33) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.33). The firm had revenue of $20.59 million during the quarter, compared to analysts’ expectations of $20.43 million. Pulmonx had a negative return on equity of 92.94% and a negative net margin of 60.09%. As a group, analysts expect that Pulmonx will post -1.13 EPS for the current fiscal year.

Insider Transactions at Pulmonx

In related news, CEO Glendon E. French III sold 67,813 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $1.43, for a total value of $96,972.59. Following the completion of the transaction, the chief executive officer owned 1,409,511 shares in the company, valued at $2,015,600.73. This trade represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 98,265 shares of company stock valued at $140,519. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Pulmonx in the 4th quarter worth $31,000. Jain Global LLC purchased a new position in shares of Pulmonx during the 3rd quarter valued at about $30,000. Opal Capital LLC purchased a new position in shares of Pulmonx during the 4th quarter valued at about $29,000. Cerity Partners LLC purchased a new position in shares of Pulmonx during the 4th quarter valued at about $27,000. Finally, Sei Investments Co. purchased a new position in shares of Pulmonx during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

About Pulmonx

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.