RedChip Upgrades Pressure Biosciences (PBIO.OB) Price Target to $10 Per Share
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…