PolarityTE price target lowered to $1 from $1.25 at Northland

Northland analyst Carl Byrnes lowered the firm’s price target on PolarityTE to $1 from $1.25 and keeps an Outperform rating on the shares after the company announced that it has entered into non-binding letter of intent for all shares to be acquired by Michael Brauser for $1.03 per share in cash. Byrnes noted that in November, the company had previously received an unsolicited, nonbinding offer from Brauser to acquire all outstanding common stock not owned by him for $1.25 per share in an all-cash transaction.