Citigroup Raises Pulmonx (NASDAQ:LUNG) Price Target to $12.00

Posted by on Feb 27th, 2023

Pulmonx (NASDAQ:LUNG – Get Rating) had its price target hoisted by Citigroup from $10.00 to $12.00 in a research note issued to investors on Friday, The Fly reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently commented on LUNG. Morgan Stanley increased their price objective on Pulmonx from $9.50 to $11.00 and gave the company an equal weight rating in a report on Thursday. Wells Fargo & Company cut their price objective on shares of Pulmonx from $13.50 to $6.00 and set an equal weight rating on the stock in a report on Monday, December 12th. Bank of America cut shares of Pulmonx from a neutral rating to an underperform rating and set a $8.00 target price for the company. in a report on Tuesday, January 3rd. Piper Sandler cut their price target on shares of Pulmonx from $25.00 to $13.00 and set an overweight rating on the stock in a research note on Friday, November 4th. Finally, Canaccord Genuity Group dropped their price objective on Pulmonx from $31.00 to $16.00 and set a buy rating on the stock in a report on Friday, November 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Pulmonx currently has a consensus rating of Hold and a consensus price target of $13.25.

Pulmonx Stock Performance

NASDAQ:LUNG opened at $10.37 on Friday. The company has a market cap of $387.94 million, a price-to-earnings ratio of -6.52 and a beta of 0.45. The company has a quick ratio of 7.73, a current ratio of 8.44 and a debt-to-equity ratio of 0.08. Pulmonx has a 52 week low of $4.07 and a 52 week high of $28.30. The company has a fifty day simple moving average of $8.66 and a two-hundred day simple moving average of $11.79.

Pulmonx (NASDAQ:LUNG – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.03. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $13.98 million. Pulmonx had a negative net margin of 109.80% and a negative return on equity of 34.14%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the business earned ($0.35) EPS. As a group, equities analysts anticipate that Pulmonx will post -1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ensign Peak Advisors Inc acquired a new position in Pulmonx during the 3rd quarter worth approximately $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Pulmonx in the first quarter valued at approximately $40,000. Denali Advisors LLC purchased a new stake in shares of Pulmonx in the fourth quarter valued at approximately $62,000. Barclays PLC boosted its stake in shares of Pulmonx by 499.0% in the fourth quarter. Barclays PLC now owns 9,284 shares of the company’s stock valued at $79,000 after buying an additional 7,734 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Pulmonx in the fourth quarter valued at approximately $88,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

About Pulmonx

(Get Rating)

Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult 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.

Featured Articles

The Fly logo

Analyst Recommendations for Pulmonx (NASDAQ:LUNG)

Receive News & Ratings for Pulmonx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pulmonx and related companies with MarketBeat.com's FREE daily email newsletter.