PolyPid (NASDAQ:PYPD) Now Covered by Analysts at Oppenheimer

Equities researchers at Oppenheimer began coverage on shares of PolyPid (NASDAQ:PYPD) in a report issued on Tuesday, Briefing.com reports. The brokerage set an “outperform” rating and a $10.00 price target on the stock. Oppenheimer‘s price objective points to a potential upside of 89.04% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Craig Hallum set a $12.00 price target on shares of PolyPid in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of PolyPid in a report on Friday, September 18th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of PolyPid in a report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

PolyPid Trading Up 0.8%

Shares of PolyPid stock opened at $5.29 on Tuesday. PolyPid has a 12-month low of $3.40 and a 12-month high of $5.73. The firm’s 50 day simple moving average is $5.13 and its two-hundred day simple moving average is $4.71. The firm has a market capitalization of $100.93 million, a price-to-earnings ratio of -3.57 and a beta of 1.38.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.03. On average, sell-side analysts predict that PolyPid will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC purchased a new position in PolyPid during the 2nd quarter valued at about $7,644,000. ADAR1 Capital Management LLC purchased a new position in shares of PolyPid in the 2nd quarter valued at about $528,000. Symmetry Peak Management LLC purchased a new position in PolyPid in the second quarter worth approximately $512,000. J. Goldman & Co LP acquired a new position in PolyPid during the 2nd quarter worth approximately $504,000. Finally, Connective Capital Management LLC acquired a new position in shares of PolyPid during the second quarter worth $343,000. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

About PolyPid

PolyPid Ltd. (NASDAQ: PYPD) is a clinical-stage biopharmaceutical company focused on developing locally administered therapies designed to provide controlled and sustained drug release at treatment sites. The company’s technology is intended to maintain therapeutic drug concentrations over extended periods while limiting systemic exposure.

PolyPid’s lead product candidate is D-PLEX100, an investigational formulation based on doxycycline and the company’s proprietary PLEX polymeric matrix.