Pressure BioSciences, Inc. (PBIO) Q2 2007 balance sheets have recognized the profit from selling several Barocycler NEP3229 PCT Sample Preparation Systems. Throughout this same period, a record number PULSE Tubes were also sold. During previous quarters, the company has only sold one unit. As a result, the company has recorded over 7 times revenue compared to previous quarters, $202,127 and $65,772, respectively.
The Initial RedChip Report on PBIO set a 12 month price target of $6.40 per share. RedChip feels that the current market price of the stock at $4.11, with a book value of $3.77 per share, is unfair and does not adequately reflect the company’s true worth. Redchip feels that the price target should be $7.00 per share because of the profound revenue estimates for 2008.
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