PolyPid (NASDAQ:PYPD) Upgraded by RODMAN&RENSHAW to “Strong-Buy” Rating

PolyPid (NASDAQ:PYPD) was upgraded by research analysts at RODMAN&RENSHAW to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

PYPD has been the topic of a number of other research reports. HC Wainwright dropped their price objective on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. Rodman & Renshaw assumed coverage on shares of PolyPid in a research note on Tuesday. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Craig Hallum initiated coverage on PolyPid in a research report on Monday, November 4th. They set a “buy” rating and a $10.00 price objective for the company.

PolyPid Price Performance

Shares of NASDAQ PYPD opened at $2.92 on Tuesday. 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 has a market capitalization of $14.02 million, a PE ratio of -0.37 and a beta of 1.32. PolyPid has a 1-year low of $2.37 and a 1-year high of $7.00. The business’s fifty day moving average price is $3.12 and its two-hundred day moving average price is $3.37.

Hedge Funds Weigh In On 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 third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned 2.89% of PolyPid at the end of the most recent quarter. 26.47% of the stock is owned by hedge funds and other institutional investors.

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.