PolyPid Ltd. (NASDAQ:PYPD) Receives $12.40 Average Target Price from Brokerages

PolyPid Ltd. (NASDAQ:PYPD) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $12.40.

PYPD has been the topic of several recent analyst reports. Citigroup reissued a “market outperform” rating on shares of PolyPid in a research note on Monday, December 1st. Wall Street Zen upgraded PolyPid from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Roth Capital reduced their target price on PolyPid from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PolyPid in a report on Monday, December 29th.

Institutional Investors Weigh In On PolyPid

Several institutional investors and hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC boosted its stake in shares of PolyPid by 27.0% during the 2nd quarter. AIGH Capital Management LLC now owns 1,194,108 shares of the company’s stock valued at $4,215,000 after purchasing an additional 253,727 shares in the last quarter. Lumbard & Kellner LLC purchased a new stake in PolyPid in the second quarter worth about $135,000. Finally, BNP Paribas Financial Markets boosted its position in PolyPid by 56.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after acquiring an additional 3,500 shares in the last quarter. 26.47% of the stock is owned by hedge funds and other institutional investors.

PolyPid Stock Up 2.8%

NASDAQ:PYPD opened at $4.47 on Friday. The firm has a market capitalization of $71.07 million, a P/E ratio of -1.50 and a beta of 1.51. The company has a fifty day moving average of $3.89 and a 200 day moving average of $3.61. PolyPid has a 52 week low of $2.30 and a 52 week high of $4.63.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.17. As a group, analysts anticipate that PolyPid will post -1.79 EPS for the current year.

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.