PolyPid (NASDAQ:PYPD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PolyPid (NASDAQ:PYPD) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on PYPD. HC Wainwright restated a “buy” rating and issued a $13.00 target price on shares of PolyPid in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PolyPid in a research report on Friday, September 18th. Oppenheimer started coverage on PolyPid in a report on Tuesday, October 27th. They set an “outperform” rating and a $10.00 price objective for the company. Finally, Craig Hallum set a $12.00 price objective on PolyPid in a report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

PolyPid Stock Performance

PYPD stock opened at $5.42 on Friday. The firm has a market cap of $103.41 million, a price-to-earnings ratio of -3.66 and a beta of 1.38. The firm has a 50-day simple moving average of $5.20 and a two-hundred day simple moving average of $4.73. PolyPid has a one year low of $3.50 and a one year high of $5.84.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. As a group, equities analysts predict that PolyPid will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Several hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC purchased a new position in shares of PolyPid in the 2nd quarter valued at approximately $7,644,000. ADAR1 Capital Management LLC purchased a new stake in PolyPid during the 2nd quarter worth approximately $528,000. Symmetry Peak Management LLC purchased a new stake in PolyPid during the 2nd quarter worth approximately $512,000. J. Goldman & Co LP purchased a new stake in PolyPid during the 2nd quarter worth approximately $504,000. Finally, Connective Capital Management LLC acquired a new position in PolyPid during the 2nd quarter valued at approximately $343,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

PolyPid Company Profile

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.