Polaryx Therapeutics, Inc. (NASDAQ:PLYX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Polaryx Therapeutics has a “Moderate Buy” consensus rating from five analysts: two buys, one strong buy, one hold, and one sell. The average 12-month price target is $7.67.
• Recent coverage has been mixed, with Raymond James initiating a strong-buy rating and a $6 target, while HC Wainwright issued a buy rating with a $7 target; other firms maintained or moved toward neutral or sell ratings.
• PLYX opened at $2.00, near its 52-week low of $1.85 and well below its $48.91 high. The company reported a quarterly loss of $0.03 per share, beating the consensus estimate of a $0.05 loss.

Polaryx Therapeutics, Inc. (NASDAQ:PLYX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $7.6667.

Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Polaryx Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded Polaryx Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Raymond James Financial started coverage on shares of Polaryx Therapeutics in a research report on Thursday, August 13th. They set a "strong-buy" rating and a $6.00 price objective for the company. Zacks Research upgraded shares of Polaryx Therapeutics to a "hold" rating in a report on Friday, July 10th. Finally, HC Wainwright assumed coverage on shares of Polaryx Therapeutics in a research report on Thursday, July 9th. They issued a "buy" rating and a $7.00 price objective on the stock.

Polaryx Therapeutics Stock Performance

Polaryx Therapeutics stock opened at $2.00 on Monday. Polaryx Therapeutics has a 1-year low of $1.85 and a 1-year high of $48.91. The company has a fifty day simple moving average of $2.24. The company has a market capitalization of $99.70 million and a P/E ratio of -25.00.

Polaryx Therapeutics (NASDAQ:PLYX - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. As a group, analysts predict that Polaryx Therapeutics will post -0.22 earnings per share for the current fiscal year.

Polaryx Therapeutics Company Profile

We are a clinical-stage biotechnology company committed to the discovery, development, and commercialization of novel, disease-modifying therapies for rare, pediatric lysosomal storage disorders (“LSDs”). Our therapeutic philosophy is centered on delivering safe, effective, and patient-friendly treatments that address the underlying pathophysiology of these catastrophic diseases and their significant unmet need. Our multi-modal approach integrates small molecule therapies, including a combination therapy, and a gene therapy, positioning us to potentially address both the genetic and downstream pathological features of LSDs.

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