PolyPid (NASDAQ:PYPD) Earns Buy Rating from Analysts at Roth Capital

Roth Capital started coverage on shares of PolyPid (NASDAQ:PYPD) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. Roth Capital’s price target points to a potential upside of 202.01% from the company’s current price.

Separately, HC Wainwright raised shares of PolyPid to a “buy” rating and set a $11.00 price target on the stock in a research report on Monday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $10.75.

PolyPid Stock Performance

NASDAQ:PYPD opened at $2.98 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $2.71 and a two-hundred day moving average price of $2.93. PolyPid has a twelve month low of $2.30 and a twelve month high of $4.49. The company has a market capitalization of $30.37 million, a P/E ratio of -0.60 and a beta of 1.25.

PolyPid (NASDAQ:PYPD) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.10. As a group, research analysts expect that PolyPid will post -1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Institutional investors and hedge funds have recently bought and sold shares of the stock. AIGH Capital Management LLC raised its holdings in shares of PolyPid by 13.6% during the first quarter. AIGH Capital Management LLC now owns 940,381 shares of the company’s stock valued at $2,548,000 after acquiring an additional 112,514 shares during the period. J. Goldman & Co LP acquired a new stake in shares of PolyPid during the fourth quarter valued at approximately $391,000. Finally, Rosalind Advisors Inc. raised its holdings in shares of PolyPid by 49.9% during the fourth quarter. Rosalind Advisors Inc. now owns 1,018,021 shares of the company’s stock valued at $3,095,000 after acquiring an additional 338,853 shares during the period. Institutional investors own 26.47% of the company’s stock.

PolyPid Company Profile

PolyPid Ltd., a clinical-stage biopharmaceutical company, developing targeted, locally administered, and prolonged-release therapeutics using its proprietary polymer-lipid encapsulation matrix (PLEX) technology to address unmet medical needs. Its lead product candidate is D-PLEX100, which is in a pivotal Phase 3 confirmatory trial for prevention of surgical site infections (SSIs) in patients undergoing abdominal colorectal surgery with large incisions.