Polaryx Therapeutics, Inc. (NASDAQ:PLYX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Polaryx Therapeutics, Inc. (NASDAQ:PLYX) have earned an average rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $7.6667.

Several equities research analysts have weighed in on PLYX shares. Zacks Research upgraded Polaryx Therapeutics to a “hold” rating in a report on Friday, July 10th. Raymond James Financial began coverage on Polaryx Therapeutics in a research report on Thursday. They set a “strong-buy” rating and a $6.00 price objective for the company. Wall Street Zen downgraded Polaryx Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings raised Polaryx Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research note on Wednesday, July 1st. Finally, HC Wainwright started coverage on Polaryx Therapeutics in a research note on Thursday, July 9th. They set a “buy” rating and a $7.00 price target on the stock.

Insider Transactions at Polaryx Therapeutics

In other Polaryx Therapeutics news, CEO Alex Keun Mo Yang acquired 88,453 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of $4.07 per share, with a total value of $360,003.71. Following the completion of the acquisition, the chief executive officer directly owned 24,233,249 shares in the company, valued at $98,629,323.43. This trade represents a 0.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 45.82% of the stock is owned by company insiders.

Polaryx Therapeutics Stock Up 11.0%

Shares of NASDAQ PLYX traded up $0.24 during midday trading on Thursday, reaching $2.48. 95,822 shares of the stock were exchanged, compared to its average volume of 950,989. The firm has a 50 day moving average of $2.33. The stock has a market cap of $123.37 million and a PE ratio of -49.92. Polaryx Therapeutics has a twelve month low of $1.86 and a twelve month high of $48.91.

Polaryx Therapeutics (NASDAQ:PLYX) last posted its earnings results on Monday, March 23rd. The company reported ($0.03) EPS for the quarter. On average, research analysts predict that Polaryx Therapeutics will post -0.22 earnings per share for the current year.

Polaryx Therapeutics Company Profile

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.