PolyPid (NASDAQ:PYPD) Earns Buy Rating from Analysts at Rodman & Renshaw

Rodman & Renshaw initiated coverage on shares of PolyPid (NASDAQ:PYPD) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $13.00 price target on the stock. Rodman & Renshaw’s target price points to a potential upside of 336.24% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. HC Wainwright lowered their target price on PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Craig Hallum started coverage on PolyPid in a report on Monday, November 4th. They set a “buy” rating and a $10.00 price objective for the company.

PolyPid Price Performance

PYPD opened at $2.98 on Tuesday. The company has a market capitalization of $14.30 million, a price-to-earnings ratio of -0.38 and a beta of 1.32. PolyPid has a 1 year low of $2.37 and a 1 year high of $7.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $3.11 and its two-hundred day moving average price is $3.36.

Institutional Trading of PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Stonepine Capital Management LLC purchased a new position in PolyPid Ltd. (NASDAQ:PYPD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned about 2.89% of PolyPid as of its most recent SEC filing. Institutional investors 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.