Polaryx Therapeutics (NASDAQ:PLYX) Earns Strong-Buy Rating from Analysts at Raymond James Financial

Raymond James Financial started coverage on shares of Polaryx Therapeutics (NASDAQ:PLYX) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm issued a strong-buy rating and a $6.00 price objective on the stock.

PLYX has been the subject of several other reports. Zacks Research upgraded shares of Polaryx Therapeutics to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings raised Polaryx Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research report on Wednesday, July 1st. HC Wainwright began coverage on Polaryx Therapeutics in a research note on Thursday, July 9th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Wall Street Zen cut Polaryx Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.67.

Polaryx Therapeutics Price Performance

NASDAQ PLYX opened at $2.60 on Thursday. The company has a market capitalization of $129.61 million and a price-to-earnings ratio of -52.00. The stock’s fifty day moving average price is $2.34. Polaryx Therapeutics has a 1 year low of $1.86 and a 1 year high of $48.91.

Polaryx Therapeutics (NASDAQ:PLYX) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. As a group, sell-side analysts expect that Polaryx Therapeutics will post -0.23 EPS for the current fiscal year.

Insider Activity at Polaryx Therapeutics

In related news, CEO Alex Keun Mo Yang acquired 88,453 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of $4.07 per share, with a total value of $360,003.71. Following the completion of the transaction, the chief executive officer directly owned 24,233,249 shares of the company’s stock, valued at $98,629,323.43. This trade represents a 0.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 45.82% of the stock is currently owned by corporate insiders.

About Polaryx Therapeutics

We are a clinical-stage biotechnology company committed to the discovery, development, and commercialization of novel, disease-modifying therapies for rare, pediatric lysosomal storage disorders (“LSDs”). Our therapeutic philosophy is centered on delivering safe, effective, and patient-friendly treatments that address the underlying pathophysiology of these catastrophic diseases and their significant unmet need. Our multi-modal approach integrates small molecule therapies, including a combination therapy, and a gene therapy, positioning us to potentially address both the genetic and downstream pathological features of LSDs.