Stifel Nicolaus Cuts Pulmonx (NASDAQ:LUNG) Price Target to $5.00

Key Points

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Pulmonx (NASDAQ:LUNG - Get Free Report) had its price target reduced by investment analysts at Stifel Nicolaus from $16.00 to $5.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 162.74% from the company's current price.

Several other brokerages also recently issued reports on LUNG. Citigroup reduced their price objective on Pulmonx from $6.50 to $4.15 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Piper Sandler cut Pulmonx from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $9.00 to $2.50 in a report on Thursday. Canaccord Genuity Group dropped their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, D. Boral Capital dropped their target price on Pulmonx from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Pulmonx has a consensus rating of "Moderate Buy" and an average price target of $8.44.

Pulmonx Stock Performance

LUNG stock traded down $1.25 during midday trading on Thursday, reaching $1.90. The company had a trading volume of 3,194,960 shares, compared to its average volume of 381,485. The company has a quick ratio of 4.29, a current ratio of 4.97 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $2.97 and a 200 day moving average price of $5.03. Pulmonx has a fifty-two week low of $1.75 and a fifty-two week high of $9.37. The firm has a market capitalization of $76.61 million, a PE ratio of -1.30 and a beta of 0.45.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.02. The company had revenue of $23.86 million during the quarter, compared to the consensus estimate of $23.46 million. Pulmonx had a negative return on equity of 63.69% and a negative net margin of 65.27%. Analysts anticipate that Pulmonx will post -1.55 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Steven S. Williamson sold 9,923 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.13, for a total value of $31,058.99. Following the transaction, the chief executive officer directly owned 366,115 shares of the company's stock, valued at approximately $1,145,939.95. This represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel P. Florin purchased 23,321 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $3.06 per share, for a total transaction of $71,362.26. Following the completion of the purchase, the director directly owned 117,231 shares of the company's stock, valued at $358,726.86. The trade was a 24.83% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 43,388 shares of company stock valued at $136,044 in the last three months. Insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Pulmonx

Several large investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new stake in Pulmonx in the fourth quarter worth $10,421,000. Parkman Healthcare Partners LLC boosted its holdings in Pulmonx by 194.4% in the first quarter. Parkman Healthcare Partners LLC now owns 611,875 shares of the company's stock worth $4,118,000 after purchasing an additional 404,022 shares in the last quarter. Altium Capital Management LLC boosted its holdings in Pulmonx by 63.0% in the fourth quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock worth $5,534,000 after purchasing an additional 315,000 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in Pulmonx in the first quarter worth $2,041,000. Finally, Nuveen LLC bought a new stake in Pulmonx in the first quarter worth $1,336,000. 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.

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