PolyPid Ltd. (NASDAQ:PYPD) Receives Consensus Recommendation of “Buy” from Brokerages

PolyPid Ltd. (NASDAQ:PYPD) has earned an average rating of “Buy” from the five analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $11.25.

Several brokerages have commented on PYPD. Roth Capital started coverage on shares of PolyPid in a research report on Thursday, June 5th. They issued a “buy” rating and a $9.00 target price on the stock. HC Wainwright raised their target price on shares of PolyPid from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Finally, JMP Securities cut their target price on shares of PolyPid from $16.00 to $14.00 and set a “market outperform” rating for the company in a research report on Tuesday.

PolyPid Price Performance

Shares of PYPD stock traded down $0.16 during trading hours on Tuesday, reaching $3.51. The stock had a trading volume of 321,215 shares, compared to its average volume of 122,392. The stock’s fifty day simple moving average is $2.85 and its 200 day simple moving average is $2.91. The firm has a market capitalization of $35.81 million, a PE ratio of -0.71 and a beta of 1.25. The company has a current ratio of 1.31, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. PolyPid has a 12 month low of $2.30 and a 12 month high of $4.49.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.10. On average, equities research analysts predict that PolyPid will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PYPD. J. Goldman & Co LP bought a new position in PolyPid during the fourth quarter valued at $391,000. AIGH Capital Management LLC increased its stake in PolyPid by 21.8% during the fourth quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock worth $2,509,000 after acquiring an additional 148,199 shares during the last quarter. Finally, Rosalind Advisors Inc. raised its position in PolyPid by 49.9% during the fourth quarter. Rosalind Advisors Inc. now owns 1,018,021 shares of the company’s stock valued at $3,095,000 after purchasing an additional 338,853 shares during the period. Hedge funds and other institutional investors own 26.47% of the company’s stock.

PolyPid Company Profile

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.