PolyPid Ltd. (NASDAQ:PYPD) Receives Average Recommendation of “Moderate Buy” from Analysts

PolyPid Ltd. (NASDAQ:PYPD) has received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $12.25.

Several equities research analysts have commented on the company. Citigroup reiterated 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 research report on Sunday, November 16th. Roth Mkm dropped their price target on PolyPid from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PolyPid in a research note on Monday, December 29th.

PolyPid Stock Up 5.5%

PYPD opened at $4.80 on Wednesday. The firm’s fifty day simple moving average is $4.16 and its two-hundred day simple moving average is $3.73. PolyPid has a 52-week low of $2.30 and a 52-week high of $5.05. The company has a market cap of $76.32 million, a price-to-earnings ratio of -1.61 and a beta of 1.51.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, November 12th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.17. On average, research analysts forecast that PolyPid will post -1.79 EPS for the current year.

Hedge Funds Weigh In On PolyPid

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

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.