HC Wainwright Upgrades PolyPid (NASDAQ:PYPD) to “Buy”

PolyPid (NASDAQ:PYPD) was upgraded by equities research analysts at HC Wainwright to a “buy” rating in a report released on Monday, MarketBeat.com reports. The brokerage presently has a $11.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 250.32% from the company’s current price. HC Wainwright also issued estimates for PolyPid’s FY2027 earnings at ($0.59) EPS, FY2028 earnings at $0.00 EPS and FY2029 earnings at $1.34 EPS.

PolyPid Stock Up 6.4%

PolyPid stock opened at $3.14 on Monday. The stock has a market cap of $32.00 million, a price-to-earnings ratio of -0.63 and a beta of 1.25. The company has a current ratio of 1.31, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $2.71 and its two-hundred day moving average price is $2.93. PolyPid has a 52 week low of $2.30 and a 52 week high of $4.49.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, May 14th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.10. On average, analysts expect that PolyPid will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Several large investors have recently bought and sold shares of the stock. Rosalind Advisors Inc. increased its stake in PolyPid by 50.6% during the 4th quarter. Rosalind Advisors Inc. now owns 1,022,521 shares of the company’s stock valued at $3,108,000 after buying an additional 343,353 shares during the period. AIGH Capital Management LLC increased its stake in PolyPid by 13.6% during the 1st quarter. AIGH Capital Management LLC now owns 940,381 shares of the company’s stock valued at $2,548,000 after buying an additional 112,514 shares during the period. Finally, J. Goldman & Co LP acquired a new position in PolyPid during the 4th quarter valued at about $391,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.