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

Key Points

• Analysts give Polaryx Therapeutics a “Moderate Buy” consensus: Of five analysts, two rate the stock a buy, one a strong buy, one a hold and one a sell. The average 12-month price target is $7.67, compared with a recent share price of $2.48.
• Insider ownership is substantial, with company insiders holding 45.82% of shares. CEO Alex Keun Mo Yang also purchased 88,453 shares for approximately $360,000 in May.
• Polaryx is a clinical-stage biotechnology company developing therapies for rare pediatric lysosomal storage disorders. The company reported a quarterly loss of $0.03 per share, while analysts expect a full-year loss of $0.22 per share.

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

Several equities research analysts have weighed in on PLYX shares. 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. Zacks Research upgraded Polaryx Therapeutics to a "hold" rating in a research note on Friday, July 10th. Raymond James Financial assumed coverage on Polaryx Therapeutics in a research report on Thursday. They set a "strong-buy" rating and a $6.00 price target for the company. Wall Street Zen downgraded Polaryx Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Finally, HC Wainwright started coverage on Polaryx Therapeutics in a research note on Thursday, July 9th. They set a "buy" rating and a $7.00 price objective for the company.

Insiders Place Their Bets

In related news, CEO Alex Keun Mo Yang acquired 88,453 shares of the stock in a transaction on Wednesday, May 27th. The shares were acquired at an average price of $4.07 per share, for a total transaction of $360,003.71. Following the transaction, the chief executive officer owned 24,233,249 shares in the company, valued at approximately $98,629,323.43. This trade represents a 0.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 45.82% of the company's stock.

Polaryx Therapeutics Price Performance

Shares of NASDAQ:PLYX traded up $0.24 on Thursday, hitting $2.48. 95,822 shares of the company's stock were exchanged, compared to its average volume of 950,989. Polaryx Therapeutics has a 12 month low of $1.86 and a 12 month high of $48.91. The company has a market capitalization of $123.37 million and a PE ratio of -49.92. The stock's 50 day simple moving average is $2.33.

Polaryx Therapeutics (NASDAQ:PLYX - Get Free Report) last issued its earnings results on Monday, March 23rd. The company reported ($0.03) earnings per share for the quarter. On average, research analysts anticipate 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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