UPDATE: Cantor Fitzgerald Starts PolyPid Ltd. (PYPD) at Overweight
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Cantor Fitzgerald analyst Brandon Folke initiates coverage on PolyPid Ltd. (NASDAQ: PYPD) with a Overweight rating and a price target of $24.00.
The analyst comments "Polypid is developing D-PLEX100 for the management of Surgical Site infections (SSIs) in bone and soft tissue. PYPD expects to readout data from its single Phase 3 required for NDA filing by year-end 2021. Beyond the potential initial approval in the management of SSIs in colorectal surgery, we expect PYPD to pursue label expansion for D-PLEX100 and leverage the PLEX technology platform to address other large unmet needs outside of SSIs. We expect data readouts and product approvals to potentially drive upside to the stock."
Shares of PolyPid Ltd. closed at $7.23 yesterday.
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