For the quarter, ending September 30, 2007, Pressure Biosciences saw revenue grow 50% year over year. This was due mostly to increased sales of PCT instruments. Revenue ended the quarter at $138,000. The Company has been spending considerably on marketing and commercialization of its PCT devices and it should begin to pay off heavily FY2008.
The analyst who completed the report stated, “We maintain our Speculative Buy rating on PBIO stock and raise our 12-month price target to $10 per share from our earlier target of $7 given the Company’s superior technology and our belief that sales will accelerate in FY 2008. We continue to believe that PBIO’s current market price of $4.71 and a book value of $3.29 per share do not adequately reflect the inherent value of the Company.”
“As the number of unit sales continues to grow and the potential applications expand, we believe the market will begin to recognize the profit potential inherent in the Company. When looking at the comps for companies in the space of providing diagnostic tools and supplies, we think our price target is reasonable based on 6.35x P/S multiple our estimate of FY 2008 per share revenue of $1.58,” the analyst continued.
Their products continue to show promise with research scientists and are being showcased at many medical conferences. This publicity along with their strong sales growth makes the $10 price target very reasonable.
Pressure Bioscience is early stage company that focuses on creating and developing innovative technologies, specifically the company has patented Pressure Cycling technology for sample preparation. Its Barocycler NEP3229 uses this technology to process multiple samples within minutes with the ability to customize depending on the sample type needed. They hold 13 US and 4 foreign patents covering many applications of their technology in the life sciences field.
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