Polaryx Therapeutics (NASDAQ:PLYX) Stock Price Down 4.6% – What’s Next?

Polaryx Therapeutics, Inc. (NASDAQ:PLYX) traded down 4.6% on Friday. The company traded as low as $1.84 and last traded at $1.85. Approximately 42,788 shares changed hands during trading, an increase of 51% from the average daily volume of 28,279 shares. The stock had previously closed at $1.94.

Analysts Set New Price Targets

PLYX has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (e)” rating on shares of Polaryx Therapeutics in a research report on Monday, September 28th. Zacks Research raised Polaryx Therapeutics to a “hold” rating in a research note on Friday, July 10th. HC Wainwright began coverage on Polaryx Therapeutics in a report on Thursday, July 9th. They set a “buy” rating and a $7.00 target price on the stock. Wall Street Zen raised Polaryx Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Finally, Raymond James Financial assumed coverage on Polaryx Therapeutics in a report on Thursday, August 13th. They issued a “strong-buy” rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Polaryx Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $7.67.

Polaryx Therapeutics Price Performance

The company’s 50-day moving average price is $2.03 and its 200-day moving average price is $2.81. The company has a market cap of $92.22 million and a P/E ratio of -23.12.

Polaryx Therapeutics (NASDAQ:PLYX) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. On average, equities research analysts predict that Polaryx Therapeutics, Inc. will post -0.22 EPS for the current 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.