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Pulmatrix
(NASDAQ:PULM)
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Rating:49Neutral
Price Target:
$1.50
▼(-1.32% Downside)
Action:Reiterated
Date:09/22/26
The score is primarily held back by weak financial performance (near-zero revenue, ongoing losses, and negative cash flow) and an unattractive/unclear valuation profile (negative P/E, no dividend data). Technicals provide partial offset, with the stock above key short- and medium-term moving averages and moderately strong RSI, though the longer-term trend and slightly negative MACD limit upside confidence.
Positive Factors
Debt-Free Balance Sheet
The absence of reported debt reduces interest expense and refinancing exposure, giving Pulmatrix greater flexibility while it advances its pipeline. Although the company remains financially constrained, avoiding leverage limits one source of downside and preserves potential financing choices.
Negative Factors
No Current Revenue Base
Near-zero revenue means Pulmatrix currently lacks an operating sales base to fund research, trials, or corporate expenses. Its ability to create sustainable revenue remains dependent on successful development, approval, partnering, or commercialization of future products.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
The absence of reported debt reduces interest expense and refinancing exposure, giving Pulmatrix greater flexibility while it advances its pipeline. Although the company remains financially constrained, avoiding leverage limits one source of downside and preserves potential financing choices.
Read all positive factors
Pulmatrix (PULM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.14M
Dividend YieldN/A
Average Volume (3M)22.99K
Price to Earnings (P/E)―
Beta (1Y)-0.27
Revenue Growth-100.00%
EPS Growth49.19%
CountryUS
Employees2
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.10
Shares Outstanding3,652,285
10 Day Avg. Volume43,309
30 Day Avg. Volume22,991
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)2.14
Price to Sales (P/S)0.00
P/FCF Ratio-1.50
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-2.24
Revenue Forecast (FY)$16.45M
Pulmatrix Business Overview & Revenue Model
Company Description
Pulmatrix, Inc. (PULM) is a clinical-stage biotechnology firm focused on creating and advancing inhaled treatments. The company's primary goal is to address significant unmet medical needs in respiratory and other diseases within the United States...
How the Company Makes Money
Pulmatrix’s business model has historically been typical of a clinical-stage biopharmaceutical company: it seeks to create value by developing proprietary drug candidates and drug-delivery technologies and then monetizing them through partnering t...
Pulmatrix Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
46
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 7.81M | 7.30M | 6.07M | 5.17M |
| Gross Profit | -38.00K | -38.00K | 640.00K | -8.22M | -12.17M | -10.21M |
| EBITDA | -4.02M | -5.16M | -7.04M | -13.99M | -18.67M | -16.42M |
| Net Income | -4.01M | -5.16M | -9.56M | -14.12M | -18.84M | -20.17M |
Balance Sheet | ||||||
| Total Assets | 3.25M | 4.14M | 9.94M | 33.96M | 40.95M | 58.82M |
| Cash, Cash Equivalents and Short-Term Investments | 2.17M | 4.09M | 9.52M | 19.17M | 35.63M | 53.84M |
| Total Debt | 0.00 | 0.00 | 0.00 | 8.76M | 857.00K | 2.29M |
| Total Liabilities | 689.00K | 329.00K | 996.00K | 15.96M | 9.84M | 11.37M |
| Stockholders Equity | 2.56M | 3.81M | 8.95M | 18.00M | 31.11M | 47.45M |
Cash Flow | ||||||
| Free Cash Flow | -3.91M | -5.43M | -11.11M | -16.66M | -19.44M | -19.87M |
| Operating Cash Flow | -3.91M | -5.43M | -10.72M | -15.98M | -19.36M | -19.73M |
| Investing Cash Flow | 0.00 | 0.00 | -398.00K | -676.00K | -86.00K | -144.00K |
| Financing Cash Flow | 950.00K | 0.00 | 0.00 | 53.00K | 1.23M | 43.48M |
Pulmatrix Technical Analysis
Positive
1.52
Price Trends
1.57
Positive
1.50
Positive
1.94
Negative
Market Momentum
-0.02
Negative
63.63
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PULM, the sentiment is Positive. The current price of 1.52 is above the 20-day moving average (MA) of 1.48, below the 50-day MA of 1.57, and below the 200-day MA of 1.94, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 63.63 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PULM.
Pulmatrix Risk Analysis
Pulmatrix disclosed 72 risk factors in its most recent earnings report. Pulmatrix reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Pulmatrix Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $10.32M | -3.57 | -31.88% | ― | 10.41% | 40.27% | |
51 Neutral | $17.97M | -2.33 | -70.81% | ― | ― | 56.99% | |
49 Neutral | $6.14M | -1.55 | -109.26% | ― | -100.00% | 49.19% | |
46 Neutral | $18.47M | -1.16 | -64.75% | ― | -62.70% | -121.27% | |
46 Neutral | $9.06M | -0.22 | -536.78% | ― | ― | 22.10% | |
43 Neutral | $76.68M | -4.09 | -47.92% | ― | -75.00% | 74.04% |
* Healthcare Sector Average
PULM
Pulmatrix
1.70
-2.81
-62.31%
IBIO
Ibio
1.33
0.53
66.88%
LPCN
Lipocine
2.16
-0.60
-21.74%
IMRN
Immuron
1.26
-0.64
-33.60%
CMMB
Chemomab Therapeutics
2.38
-0.22
-8.46%
FBLG
FibroBiologics, Inc.
1.34
-9.18
-87.26%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.