Dutton Associates Announces Investment Opinion: Pressure BioSciences Strong Speculative Buy Rating in Update Coverage by Dutton Associates
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--
Dutton Associates updates its coverage of Pressure BioSciences (Nasdaq: PBIO) maintaining a Strong Speculative Buy rating and a 12 month target price of $10. The 17-page report by Dutton senior analyst Denise T. Resnik, M.S. is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.
We are reiterating our rating of Pressure BioSciences Inc. as a Strong Speculative Buy and our 12-month price target of $10.00 per share. The Company has developed a unique and superior technology for the preparation of biological laboratory samples and is in the early stages of commercialization of its product platform. While this quarter's revenues were somewhat disappointing, we believe that as the sales force is now in place, sales should ramp up in coming quarters, and investors will increasingly recognize the value inherent to this technology. We expect that the shares will begin to reflect the substantial profits that we believe the Company can generate beginning in 2010. We believe that as the coming 12-month period progresses, Pressure BioSciences will begin to demonstrate its ability to place a rapidly-increasing number of Barocyclers, and that the potential for substantial profits beginning in 2010 will begin to be recognized in these shares. Accordingly, we have established a 12-month price target of $10. Based on a 20 multiple of projected 2010 earnings per share of $1.51, a substantially higher 12-month target stock price could be generated even if this future value is discounted at a rate that reflects the risks to our projections.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $32,000 from the Company for 4 Research Reports with coverage commencing on 9/12/07. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
Source: Pressure BioSciences Inc.
Released December 18, 2007