PolyPid Ltd. (NASDAQ:PYPD) Receives $12.25 Consensus Target Price from Brokerages

PolyPid Ltd. (NASDAQ:PYPD) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.25.

Several research firms have recently commented on PYPD. HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of PolyPid in a research note on Wednesday, February 11th. Wall Street Zen upgraded PolyPid from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings lowered shares of PolyPid from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st.

PolyPid Trading Up 2.7%

PYPD opened at $4.62 on Tuesday. The company has a market cap of $88.15 million, a price-to-earnings ratio of -2.42 and a beta of 1.42. The company’s 50 day moving average is $4.56 and its 200 day moving average is $4.37. PolyPid has a 12-month low of $2.77 and a 12-month high of $5.21.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.12. As a group, analysts predict that PolyPid will post -1.34 EPS for the current fiscal year.

Institutional Trading of PolyPid

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in shares of PolyPid by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock worth $32,000 after purchasing an additional 3,500 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of PolyPid in the fourth quarter worth $44,000. Jane Street Group LLC purchased a new stake in shares of PolyPid in the fourth quarter worth $66,000. Renaissance Technologies LLC purchased a new stake in shares of PolyPid in the first quarter worth $81,000. Finally, XTX Topco Ltd increased its stake in shares of PolyPid by 50.0% in the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after purchasing an additional 10,888 shares in the last quarter. 26.47% of the stock is owned by hedge funds and other institutional investors.

About PolyPid

PolyPid Ltd is a clinical‐stage biotechnology company focused on polymer‐based drug delivery technologies designed to enhance the performance of therapeutic agents at mucosal surfaces. Leveraging its proprietary Mucoadhesive & Mucus‐Penetrating (MMP) platform, PolyPid develops long‐acting formulations for ocular, oral and pulmonary indications. Its lead candidates include OncoTears and OralTear, therapies targeting dry eye and dry mouth conditions, respectively, as well as Paclical, a polymer‐formulated paclitaxel designed to improve tolerability and antitumor activity in oncology patients.

Founded in 2003 and headquartered in Jerusalem, Israel, PolyPid has assembled an international patent portfolio covering key markets in North America, Europe and Asia.