PolyPid (NASDAQ:PYPD) Issues Earnings Results, Beats Estimates By $0.17 EPS

PolyPid (NASDAQ:PYPD) posted its quarterly earnings results on Wednesday. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.17, Zacks reports.

PolyPid Price Performance

Shares of PolyPid stock traded down $0.10 on Wednesday, hitting $3.66. The company had a trading volume of 16,859 shares, compared to its average volume of 175,845. The firm has a market capitalization of $58.18 million, a P/E ratio of -0.95 and a beta of 1.53. The stock has a 50-day moving average of $3.48 and a 200-day moving average of $3.34. PolyPid has a twelve month low of $2.30 and a twelve month high of $3.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PYPD shares. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of PolyPid in a report on Wednesday, August 13th. Roth Capital restated a “buy” rating on shares of PolyPid in a report on Thursday, August 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PolyPid in a report on Wednesday, October 8th. Craig Hallum reaffirmed a “buy” rating and set a $13.00 price target (down previously from $15.00) on shares of PolyPid in a research note on Thursday, August 14th. Finally, Wall Street Zen lowered shares of PolyPid from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.40.

About PolyPid

PolyPid Ltd., a clinical-stage biopharmaceutical company, developing targeted, locally administered, and prolonged-release therapeutics using its proprietary polymer-lipid encapsulation matrix (PLEX) technology to address unmet medical needs. Its lead product candidate is D-PLEX100, which is in a pivotal Phase 3 confirmatory trial for prevention of surgical site infections (SSIs) in patients undergoing abdominal colorectal surgery with large incisions.