PolyPid (NASDAQ:PYPD) Given Buy Rating at HC Wainwright

PolyPid (NASDAQ:PYPD)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $13.00 price target on the stock. HC Wainwright‘s price target would suggest a potential upside of 96.97% from the company’s current price.

A number of other equities analysts also recently commented on the company. Wall Street Zen upgraded PolyPid from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Craig Hallum set a $12.00 target price on shares of PolyPid in a research note on Wednesday, July 22nd. Oppenheimer started coverage on shares of PolyPid in a research report on Tuesday, October 27th. They issued an “outperform” rating and a $10.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PolyPid in a research note on Friday, September 18th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

PolyPid Price Performance

Shares of NASDAQ PYPD opened at $6.60 on Thursday. The business’s 50-day moving average price is $5.32 and its two-hundred day moving average price is $4.78. PolyPid has a one year low of $3.50 and a one year high of $7.15. The company has a market capitalization of $125.95 million, a P/E ratio of -4.46 and a beta of 1.43.

PolyPid (NASDAQ:PYPD) last issued its earnings results on Wednesday, November 11th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.91 by ($1.15). The business had revenue of $30.00 million during the quarter, compared to the consensus estimate of $30.00 million. On average, equities analysts anticipate that PolyPid will post -0.44 EPS for the current year.

Institutional Trading of PolyPid

Several large investors have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new position in shares of PolyPid during the 2nd quarter valued at about $56,000. AXQ Capital LP bought a new stake in PolyPid during the second quarter worth approximately $87,000. Renaissance Technologies LLC bought a new stake in PolyPid during the first quarter worth approximately $81,000. B. Riley Wealth Advisors Inc. grew its holdings in PolyPid by 32.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,085 shares of the company’s stock valued at $106,000 after purchasing an additional 4,955 shares during the last quarter. Finally, Connective Capital Management LLC acquired a new position in PolyPid during the second quarter valued at approximately $343,000. Institutional investors own 26.47% of the company’s stock.

About PolyPid

PolyPid Ltd. (NASDAQ: PYPD) is a clinical-stage biopharmaceutical company focused on developing locally administered therapies designed to provide controlled and sustained drug release at treatment sites. The company’s technology is intended to maintain therapeutic drug concentrations over extended periods while limiting systemic exposure. PolyPid’s lead product candidate is D-PLEX100, an investigational formulation based on doxycycline and the company’s proprietary PLEX polymeric matrix. It is being developed for the prevention of surgical-site infections, initially in patients undergoing colorectal surgery.