PolyPid (NASDAQ:PYPD) Stock Lifted to “Buy” by Wall Street Zen

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

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

PolyPid Stock Down 3.6%

NASDAQ PYPD opened at $5.39 on Friday. The company’s 50 day moving average is $5.19 and its 200-day moving average is $4.73. PolyPid has a 12-month low of $3.50 and a 12-month high of $5.84. The firm has a market cap of $102.84 million, a P/E ratio of -3.64 and a beta of 1.38.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. Equities analysts expect that PolyPid will post -0.44 EPS for the current year.

Hedge Funds Weigh In On PolyPid

A number of institutional investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC bought a new position in shares of PolyPid in the 2nd quarter worth $7,644,000. ADAR1 Capital Management LLC purchased a new stake in shares of PolyPid during the 2nd quarter valued at $528,000. Symmetry Peak Management LLC purchased a new stake in shares of PolyPid during the 2nd quarter valued at $512,000. J. Goldman & Co LP bought a new stake in shares of PolyPid during the 2nd quarter worth $504,000. Finally, Connective Capital Management LLC bought a new stake in shares of PolyPid during the 2nd quarter worth $343,000. 26.47% of the stock is currently owned by institutional investors.

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.