How Do Analysts Rate PolyNovo (ASX:PNV)?

Sonal Goyal

09 October 2026 11:42 AM AEDT

How Do Analysts Rate PolyNovo (ASX:PNV)?

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Highlights

Consensus rating of Buy from 7 analysts: 5 Buy or equivalent, 2 Hold, 0 Sell or equivalent.
Mean price target of A$1.25 against a share price of A$0.92 on 8 October 2026, an implied upside of 36.3%.
Analyst targets range from A$0.95 to A$1.70.
Commercial sales rose 16.7% to $138.4 million, or 21.3% in constant currency, and total Revenue rose 16.1% to $150.0 million.

PolyNovo (ASX:PNV) carries a consensus analyst rating of Buy. Of the 7 analyst recommendations recorded, 5 are Buy or equivalent, 2 are Hold and 0 are Sell or equivalent. The mean price target is A$1.25, with targets ranging from A$0.95 to A$1.70, against a current share price of A$0.92 (8 October 2026). PolyNovo Limited is a medical technology company that develops NovoSorb biodegradable polymer products for the management of complex wounds.

Company name	PolyNovo
Ticker	(ASX:PNV)
Exchange	ASX (Australian Securities Exchange)
Current share price	A$0.92
Price date	8 October 2026
Number of analysts	7
Rating consensus	Buy
Consensus price target (mean)	A$1.25
Highest target	A$1.70
Lowest target	A$0.95
Implied upside/downside to mean target	Implied upside of 36.3%

Latest developments

PolyNovo (ASX:PNV) announced its 2026 full year financial results on 26 August 2026. Commercial sales rose 16.7% to $138.4 million, or 21.3% in constant currency, and total revenue rose 16.1% to $150.0 million. EBITDA was $12.1 million and NPAT was $7.3 million, both positive. Operating Cash Flow was $23.1 million and free cash flow was $9.4 million.

Manufacturing output increased significantly in the second half, and construction of the company's new Manufacturing Facility was completed, with validation progressing ahead of a planned transition in FY27. The company continued to expand clinical evidence for NovoSorb beyond burns, including completion of key BARDA-supported clinical trial milestones, progressed the commercial rollout of NovoSorb MTX, and advanced PMA submission activities supporting future reimbursement in the United States.

Sector context

The company operates in advanced wound care, where growth depends on clinical evidence, reimbursement and hospital adoption, particularly in the United States. It reports expansion of clinical evidence for use beyond burns.

Risks and what to watch

NPAT of $7.3 million is small relative to revenue of $150.0 million, and sales growth in constant currency of 21.3% exceeded reported growth because of exchange rates. The transition to the new manufacturing facility and the PMA submission are still in progress, and future reimbursement is not assured.

Next milestones

Items to watch include the transition to the new manufacturing facility in FY27, PMA submission progress, NovoSorb MTX rollout, clinical trial milestones, and the half-year result.

FAQs

Q: What is the consensus analyst rating for PolyNovo (ASX:PNV)?

A:The consensus rating is Buy, based on 7 analyst recommendations: 5 Buy or equivalent, 2 Hold and 0 Sell or equivalent.

Q: What are the analyst price targets for PolyNovo (ASX:PNV)?

A:The mean price target is A$1.25, with a highest target of A$1.70 and a lowest target of A$0.95. The share price on 8 October 2026 was A$0.92.

Q: What did PolyNovo (ASX:PNV) report for FY26?

A:PolyNovo reported commercial sales of $138.4 million, total revenue of $150.0 million, EBITDA of $12.1 million and NPAT of $7.3 million.

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