PolyPid (NASDAQ:PYPD) Earns Buy Rating from Analysts at Roth Capital

Roth Capital assumed coverage on shares of PolyPid (NASDAQ:PYPD) in a report issued on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $9.00 price target on the stock.

Separately, HC Wainwright upgraded PolyPid to a “buy” rating and set a $11.00 price objective for the company in a report on Monday, June 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $10.75.

PolyPid Trading Up 3.5%

Shares of PolyPid stock opened at $3.27 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.31 and a debt-to-equity ratio of 0.08. The firm has a market cap of $33.32 million, a price-to-earnings ratio of -0.66 and a beta of 1.25. The business has a fifty day simple moving average of $2.74 and a 200-day simple moving average of $2.92. PolyPid has a fifty-two week low of $2.30 and a fifty-two week high of $4.49.

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

Institutional Investors Weigh In On PolyPid

A number of institutional investors and hedge funds have recently modified their holdings of PYPD. Rosalind Advisors Inc. raised its position in shares of PolyPid by 50.6% during the fourth quarter. Rosalind Advisors Inc. now owns 1,022,521 shares of the company’s stock worth $3,108,000 after purchasing an additional 343,353 shares during the period. AIGH Capital Management LLC raised its position in shares of PolyPid by 21.8% during the fourth quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock worth $2,509,000 after purchasing an additional 148,199 shares during the period. Finally, J. Goldman & Co LP acquired a new stake in shares of PolyPid during the fourth quarter worth $391,000. 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.