{"id":3909,"date":"2019-12-05T10:16:07","date_gmt":"2019-12-04T23:46:07","guid":{"rendered":"https:\/\/strawman.com\/blog\/?p=3909"},"modified":"2019-12-05T10:16:08","modified_gmt":"2019-12-04T23:46:08","slug":"is-polynovo-asxpnv-a-buy","status":"publish","type":"post","link":"https:\/\/strawman.com\/blog\/is-polynovo-asxpnv-a-buy\/","title":{"rendered":"Is Polynovo (ASX:PNV) a buy?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Polynovo has enjoyed a spectacular run in 2019, with the share price rising from $0.56 at the start of the year to a high of $2.66 on the back of rising sales in the US and entry into the ASX200. But in recent weeks the share price has languished, dropping nearly 40% in just over a month. So the question is, does now represent a good buying opportunity?<\/p>\n\n\n\n<p>Born out of the CSIRO in 2004, Polynovo sells a series of synthetic polymers under the Novosorb platform which act as a dermal \u2018scaffold\u2019 to help the body regenerate lost tissue. It\u2019s particularly useful in severe burns, where clinical studies have produced extremely encouraging results. Many of the surgeons who pioneered its use are now large shareholders, with many more acting as defacto sales staff through word of mouth praise to their peers.<\/p>\n\n\n\n<p>Another reason to like Polynovo is that unlike many other health tech businesses, there is already a well established market for its product. The publicly listed Integra Life sciences has been operating in the US for over 30 years and sells an animal-based version of the same product. However unlike the synthetic Novosorb, Integra\u2019s product is slower and more expensive to produce, has a much higher infection rate, and is more than twice the price of Novosorb. <\/p>\n\n\n\n<p>Between signs of stagnating revenue in Integra\u2019s wound care segment, poached sales staff and nervous analysts on earnings calls asking about competitor activity, it would seem that Polynovo could be starting to invade their territory at a rapid pace. And given Integra\u2019s revenue for their competing product is over USD $320m per annum, it might be safe to assume Polynovo is set to capture a lot of that market in the not-to-distant future.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/strawman.com\/blog\/wp-content\/uploads\/2019\/12\/Screen-Shot-2019-12-05-at-9.44.31-am.png\" alt=\"\" class=\"wp-image-3913\" width=\"731\" height=\"567\" srcset=\"https:\/\/strawman.com\/blog\/wp-content\/uploads\/2019\/12\/Screen-Shot-2019-12-05-at-9.44.31-am.png 974w, https:\/\/strawman.com\/blog\/wp-content\/uploads\/2019\/12\/Screen-Shot-2019-12-05-at-9.44.31-am-300x233.png 300w, https:\/\/strawman.com\/blog\/wp-content\/uploads\/2019\/12\/Screen-Shot-2019-12-05-at-9.44.31-am-768x596.png 768w, https:\/\/strawman.com\/blog\/wp-content\/uploads\/2019\/12\/Screen-Shot-2019-12-05-at-9.44.31-am-800x621.png 800w, https:\/\/strawman.com\/blog\/wp-content\/uploads\/2019\/12\/Screen-Shot-2019-12-05-at-9.44.31-am-670x520.png 670w, https:\/\/strawman.com\/blog\/wp-content\/uploads\/2019\/12\/Screen-Shot-2019-12-05-at-9.44.31-am-45x35.png 45w\" sizes=\"(max-width: 731px) 100vw, 731px\" \/><\/figure><\/div>\n\n\n\n<p>With a market cap. of over $1bn on FY19 revenue of only $13m, even now Polynovo\u2019s valuation looks stretched. However there is a lot to like about the trajectory of the business, given broker consensus is that revenue will more than double this year and management are constantly adjusting their projected sales run rate.<\/p>\n\n\n\n<p>Ranked #23 on Strawman, Polynovo sits well below the community consensus valuation. Click below to learn more.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-background has-secondary-background-color\" href=\"https:\/\/strawman.com\/member\/company\/forecasts\/PNV\">Click here for Polynovo (ASX:PNV) share price &amp; research<\/a><\/div>\n\n\n\n<p class=\"has-text-color has-background has-very-dark-gray-color has-very-light-gray-background-color\"><em>Strawman is Australia&#8217;s premier online investment club. Join for free to access independent &amp; actionable recommendations from proven private investors.<\/em><br><\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-text-color has-very-light-gray-color has-background has-tertiary-background-color\" href=\"https:\/\/strawman.com\/member\/landing\/signup\">Register for free ASX recommendations<\/a><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"has-text-color has-cyan-bluish-gray-color\"><em><strong>Disclaimer\u2013<\/strong> The author may hold positions in the stocks mentioned in this publication, at the time of writing. The information contained in the publication and the links shared are general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. For errors that warrant correction please contact the editor at admin@strawman.com.<\/em><\/p>\n\n\n\n<p style=\"text-align:center\" class=\"has-text-color has-cyan-bluish-gray-color\">\u00a9 2019 Strawman Pty Ltd. All rights reserved.<\/p>\n\n\n\n<p style=\"text-align:center\">| <a href=\"https:\/\/strawman.com\/member\/landing\/privacy\">Privacy Policy<\/a>&nbsp;|&nbsp;<a href=\"https:\/\/strawman.com\/member\/landing\/terms\">Terms of Service<\/a> | <a href=\"https:\/\/strawman.com\/member\/landing\/fsg\">Financial Services Guide<\/a> | <\/p>\n\n\n\n<p style=\"text-align:center\" class=\"has-text-color has-cyan-bluish-gray-color\">ACN: 610 908 211 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polynovo has enjoyed a spectacular run in 2019, with the share price rising from $0.56 at the start of the year to a high of $2.66 on the back of rising sales in the US and entry into the ASX200. But in recent weeks the share price has languished, dropping nearly 40% in just over a month. So the question [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":3912,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is Polynovo (ASX:PNV) a buy? - Strawman Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/strawman.com\/blog\/is-polynovo-asxpnv-a-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Polynovo (ASX:PNV) a buy? - Strawman Blog\" \/>\n<meta property=\"og:description\" content=\"Polynovo has enjoyed a spectacular run in 2019, with the share price rising from $0.56 at the start of the year to a high of $2.66 on the back of rising sales in the US and entry into the ASX200. 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