Brokerages Set Pulmonx Corporation (NASDAQ:LUNG) Price Target at $11.53

Key Points

• Pulmonx Corporation (NASDAQ:LUNG) has received a consensus rating of “Moderate Buy” from eight analysts, with an average 1-year price target of $11.53.
• The company reported a revenue of $23.86 million for the quarter, exceeding analysts' expectations, and had a negative earnings per share (EPS) of ($0.38), which beat the consensus estimate of ($0.40).
• Insider transactions indicate significant selling activity, with Director Richard Ferrari and CEO Steven S. Williamson selling shares, leading to a combined decrease in their ownership positions.

Pulmonx Corporation (NASDAQ:LUNG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine research firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $7.66.

A number of equities research analysts have recently commented on the company. Citigroup dropped their price target on Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Piper Sandler lowered shares of Pulmonx from an "overweight" rating to a "neutral" rating and cut their price target for the company from $9.00 to $2.50 in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of Pulmonx from $6.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday. D. Boral Capital cut their price objective on shares of Pulmonx from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus decreased their price objective on Pulmonx from $16.00 to $5.00 and set a "buy" rating for the company in a report on Thursday.

Pulmonx Trading Down 12.5%

NASDAQ:LUNG traded down $0.23 during mid-day trading on Thursday, hitting $1.61. The company had a trading volume of 1,873,679 shares, compared to its average volume of 402,989. Pulmonx has a fifty-two week low of $1.59 and a fifty-two week high of $9.37. The business's fifty day moving average is $2.94 and its two-hundred day moving average is $5.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.29 and a current ratio of 4.97. The firm has a market cap of $64.82 million, a P/E ratio of -1.13 and a beta of 0.45.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.02. Pulmonx had a negative net margin of 62.88% and a negative return on equity of 66.36%. The business had revenue of $23.86 million during the quarter, compared to analysts' expectations of $23.46 million. As a group, research analysts expect that Pulmonx will post -1.55 earnings per share for the current year.

Insider Activity at Pulmonx

In related news, Director Richard Ferrari sold 8,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $3.16, for a total value of $25,280.00. Following the sale, the director owned 87,024 shares in the company, valued at approximately $274,995.84. This represents a 8.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Aaron Lehman sold 10,457 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.13, for a total value of $32,730.41. Following the completion of the sale, the general counsel owned 273,039 shares in the company, valued at approximately $854,612.07. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,388 shares of company stock worth $136,044 in the last three months. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pulmonx

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in Pulmonx in the 4th quarter valued at $43,000. ProShare Advisors LLC acquired a new position in Pulmonx in the 4th quarter valued at $72,000. Stifel Financial Corp bought a new position in Pulmonx during the 4th quarter worth $81,000. Vontobel Holding Ltd. bought a new position in Pulmonx during the 1st quarter worth $82,000. Finally, R Squared Ltd acquired a new stake in shares of Pulmonx during the second quarter worth $41,000. Institutional investors own 91.04% of the company's stock.

About Pulmonx

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.