PolyPid (NASDAQ:PYPD) Stock Rating Upgraded by Zacks Investment Research

PolyPid (NASDAQ:PYPD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “PolyPid Ltd. is a pharmaceutical company. It discovers, develops and commercializes antibiotic drugs for the prevention of surgical infections. The company’s product candidate includes D-PLEX100, BONYPID-1000 and BONYPID-500 which are in clinical stage. PolyPid Ltd. is based in Petach Tikva, Israel. “

Separately, Raymond James raised PolyPid from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, November 24th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $25.50.

NASDAQ:PYPD opened at $10.63 on Tuesday. The company has a fifty day moving average of $10.53. PolyPid has a 12-month low of $8.64 and a 12-month high of $19.45.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, November 11th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.06. As a group, research analysts anticipate that PolyPid will post -3.94 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in PolyPid during the 3rd quarter worth about $48,000. ARK Investment Management LLC acquired a new position in PolyPid in the 3rd quarter valued at about $445,000. Finally, Federated Hermes Inc. acquired a new position in PolyPid in the 3rd quarter valued at about $495,000. 5.24% of the stock is owned by institutional investors.

PolyPid Company Profile

PolyPid Ltd. develops, manufactures, and commercializes products based on polymer-lipid encapsulation matrix platform. Its products include D-PLEX, an antibiotic drug reservoir that is implanted during surgery to prevent and treat surgical site infections; D-PLEX100 for the prevention of post-abdominal surgery incisional infection; BONYPID-1000, an antibiotic eluting à tri-calcium phosphate granule for bone related infections applications; and BONYPIDÂ-500, an antibiotic eluting bone graft substitute that fills and reconstructs periodontal and oral/maxillofacial defects, while protecting from infections.

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