Brokerages Set PolyPid Ltd. (NASDAQ:PYPD) PT at $11.25

Shares of PolyPid Ltd. (NASDAQ:PYPD) have been assigned an average rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $11.80.

PYPD has been the subject of several recent research reports. Roth Capital set a $9.00 price objective on PolyPid and gave the company a “buy” rating in a research note on Wednesday. HC Wainwright boosted their target price on shares of PolyPid from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Finally, JMP Securities dropped their price target on shares of PolyPid from $16.00 to $14.00 and set a “market outperform” rating for the company in a research note on Tuesday.

PolyPid Stock Down 6.2%

Shares of PYPD opened at $3.31 on Tuesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.71 and a current ratio of 0.71. PolyPid has a 52 week low of $2.30 and a 52 week high of $4.49. The stock has a market capitalization of $33.73 million, a price-to-earnings ratio of -0.77 and a beta of 1.25. The stock has a fifty day moving average of $2.90 and a 200-day moving average of $2.92.

PolyPid (NASDAQ:PYPD) last issued its earnings results on Wednesday, May 14th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.10. As a group, sell-side analysts anticipate that PolyPid will post -1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PolyPid

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rosalind Advisors Inc. increased its position in PolyPid by 49.9% during the 4th quarter. Rosalind Advisors Inc. now owns 1,018,021 shares of the company’s stock valued at $3,095,000 after purchasing an additional 338,853 shares during the period. J. Goldman & Co LP bought a new position in PolyPid during the fourth quarter worth $391,000. Finally, AIGH Capital Management LLC grew its holdings in PolyPid by 21.8% during the 4th quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock worth $2,509,000 after acquiring an additional 148,199 shares during the period. 26.47% of the stock is owned by institutional investors and hedge funds.

PolyPid Company Profile

PolyPid Ltd., a clinical-stage biopharmaceutical company, developing targeted, locally administered, and prolonged-release therapeutics using its proprietary polymer-lipid encapsulation matrix (PLEX) technology to address unmet medical needs. Its lead product candidate is D-PLEX100, which is in a pivotal Phase 3 confirmatory trial for prevention of surgical site infections (SSIs) in patients undergoing abdominal colorectal surgery with large incisions.