PolyPid price target raised to $13 from $11 at H.C. Wainwright

H.C. Wainwright analyst Brandon Folkes raised the firm’s price target on PolyPid (PYPD) to $13 from $11 and keeps a Buy rating on the shares. The company this morning reported “compelling” data from the SHIELD II Phase 3 trial of D-PLEX100 in surgical site infections, the analyst tells investors in a research note. The firm’s upped price target is driven by taking the probability of success on D-PLEX100 in the U.S. to 90%, from 80%, and in the EU to 85%, from 80%. This morning’s data is a “significant positive” and reinforces a positive view on the shares, contends H.C. Wainwright. The firm believes the data not only supports the approval and commercial potential of D-PLEX100, but also validates PolyPid’s Plex platform more broadly.