Ord Minnett notes PolyNovo sales were up 70% in November, on an implied compound annual growth rate of 49%.

The broker believes the shares are "vastly" overvalued, suspecting the market is too optimistic on the speed and extent of the company's commercial rollout and underestimating competitive pressures.

Some products are still early in the development phase. Lighten and $1.00 target retained.

Sector: Pharmaceuticals, Biotechnology & Life Sciences.

Target price is $1.00.Current Price is $1.47. Difference: ($0.47) - (brackets indicate current price is over target). If PNV meets the Ord Minnett target it will return approximately -47% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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