PolyPid (NASDAQ:PYPD) Price Target Raised to $13.00 at HC Wainwright

PolyPid (NASDAQ:PYPD) had its target price increased by HC Wainwright from $11.00 to $13.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 252.78% from the company’s current price.

Separately, Roth Capital initiated coverage on PolyPid in a report on Thursday. They set a “buy” rating and a $9.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.25.

PolyPid Price Performance

PYPD stock traded up $0.42 during mid-day trading on Monday, reaching $3.69. 19,931,085 shares of the company traded hands, compared to its average volume of 102,827. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.31 and a quick ratio of 1.00. The company has a market capitalization of $37.55 million, a P/E ratio of -0.74 and a beta of 1.25. PolyPid has a 52-week low of $2.30 and a 52-week high of $5.75. The company has a fifty day moving average price of $2.74 and a 200-day moving average price of $2.91.

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

Hedge Funds Weigh In On PolyPid

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AIGH Capital Management LLC grew its stake in PolyPid by 13.6% in the 1st quarter. AIGH Capital Management LLC now owns 940,381 shares of the company’s stock worth $2,548,000 after buying an additional 112,514 shares in the last quarter. J. Goldman & Co LP bought a new stake in PolyPid in the 4th quarter worth approximately $391,000. Finally, Rosalind Advisors Inc. lifted its position in PolyPid by 49.9% in the 4th quarter. Rosalind Advisors Inc. now owns 1,018,021 shares of the company’s stock worth $3,095,000 after buying an additional 338,853 shares during the last quarter. Hedge funds and other institutional investors own 26.47% of the company’s stock.

About PolyPid

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.