Brokerages Set Palvella Therapeutics (NASDAQ:PVLA) PT at $46.29

Shares of Palvella Therapeutics (NASDAQ:PVLA) have received a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $46.29.

Several analysts have recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Palvella Therapeutics from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Scotiabank assumed coverage on Palvella Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Jones Trading started coverage on Palvella Therapeutics in a research note on Tuesday, March 25th. They issued a “buy” rating and a $45.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus started coverage on shares of Palvella Therapeutics in a research note on Wednesday, March 26th. They set a “buy” rating and a $45.00 target price on the stock.

Palvella Therapeutics Price Performance

NASDAQ PVLA opened at $26.23 on Friday. The firm has a 50-day moving average of $23.51. Palvella Therapeutics has a 12 month low of $6.20 and a 12 month high of $29.27. The firm has a market capitalization of $290.00 million, a PE ratio of -2.17 and a beta of -0.10.

Palvella Therapeutics (NASDAQ:PVLA) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.40) by $2.66. On average, equities research analysts anticipate that Palvella Therapeutics will post -3.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director George M. Jenkins purchased 2,500 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of $20.13 per share, for a total transaction of $50,325.00. Following the completion of the purchase, the director now directly owns 183,171 shares of the company’s stock, valued at approximately $3,687,232.23. This trade represents a 1.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Palvella Therapeutics

Several hedge funds have recently made changes to their positions in the company. Woodline Partners LP purchased a new position in shares of Palvella Therapeutics during the first quarter worth about $5,435,000. Goldman Sachs Group Inc. purchased a new position in shares of Palvella Therapeutics during the first quarter worth about $533,000. Millennium Management LLC purchased a new position in shares of Palvella Therapeutics during the first quarter worth about $7,553,000. AWM Investment Company Inc. purchased a new position in shares of Palvella Therapeutics during the first quarter worth about $1,943,000. Finally, Frazier Life Sciences Management L.P. grew its position in shares of Palvella Therapeutics by 5.5% during the first quarter. Frazier Life Sciences Management L.P. now owns 690,012 shares of the company’s stock worth $19,313,000 after acquiring an additional 36,120 shares during the last quarter. Hedge funds and other institutional investors own 40.11% of the company’s stock.

About Palvella Therapeutics

Palvella Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases. Palvella Therapeutics Inc, formerly known as Pieris Pharmaceuticals Inc, is based in WAYNE, Pa.