Polaryx Therapeutics (NASDAQ:PLYX) Coverage Initiated at Raymond James Financial

Equities researchers at Raymond James Financial assumed coverage on shares of Polaryx Therapeutics (NASDAQ:PLYX) in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage set a “strong-buy” rating and a $6.00 price target on the stock. Raymond James Financial’s price target would suggest a potential upside of 169.06% from the company’s current price.

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

Polaryx Therapeutics Stock Performance

Shares of NASDAQ:PLYX opened at $2.23 on Thursday. Polaryx Therapeutics has a 52-week low of $1.86 and a 52-week high of $48.91. The stock has a market capitalization of $111.16 million and a PE ratio of -44.60. The business has a 50-day moving average price of $2.33.

Polaryx Therapeutics (NASDAQ:PLYX) last issued its earnings results on Monday, March 23rd. The company reported ($0.03) EPS for the quarter. Research analysts expect that Polaryx Therapeutics will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Alex Keun Mo Yang acquired 88,453 shares of Polaryx Therapeutics stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $4.07 per share, for a total transaction of $360,003.71. Following the completion of the transaction, the chief executive officer owned 24,233,249 shares of the company’s stock, valued at approximately $98,629,323.43. The trade was a 0.37% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 45.82% of the company’s stock.

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.