HC Wainwright Reiterates Buy Rating for PolyPid (NASDAQ:PYPD)

PolyPid (NASDAQ:PYPD)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $13.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 183.53% from the stock’s current price.

A number of other research analysts have also issued reports on PYPD. Roth Mkm decreased their target price on PolyPid from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Citigroup reiterated a “market outperform” rating on shares of PolyPid in a research note on Monday, December 1st. Wall Street Zen upgraded shares of PolyPid from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PolyPid in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

PolyPid Trading Down 2.0%

PYPD traded down $0.10 during trading hours on Wednesday, hitting $4.59. 20,139 shares of the company’s stock were exchanged, compared to its average volume of 73,157. The firm has a market cap of $72.90 million, a P/E ratio of -1.54 and a beta of 1.52. PolyPid has a 12-month low of $2.30 and a 12-month high of $5.12. The firm has a 50 day moving average of $4.34 and a 200 day moving average of $3.79.

PolyPid (NASDAQ:PYPD) last issued its quarterly earnings results on Wednesday, February 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.07). As a group, research analysts expect that PolyPid will post -1.79 EPS for the current fiscal year.

Institutional Trading of PolyPid

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lumbard & Kellner LLC purchased a new position in PolyPid during the 2nd quarter worth $135,000. AIGH Capital Management LLC boosted its stake in shares of PolyPid by 27.0% during the second quarter. AIGH Capital Management LLC now owns 1,194,108 shares of the company’s stock worth $4,215,000 after buying an additional 253,727 shares during the period. HighTower Advisors LLC purchased a new position in shares of PolyPid during the fourth quarter worth about $44,000. Finally, BNP Paribas Financial Markets increased its position in PolyPid by 56.1% in 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 during the period. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.