Palvella Therapeutics (NASDAQ:PVLA) Price Target Raised to $66.00

Palvella Therapeutics (NASDAQ:PVLA) had its price objective hoisted by Canaccord Genuity Group from $52.00 to $66.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. HC Wainwright lifted their price objective on shares of Palvella Therapeutics from $38.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Chardan Capital boosted their price target on shares of Palvella Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Lifesci Capital began coverage on Palvella Therapeutics in a research report on Monday, August 4th. They set an “outperform” rating and a $90.00 price objective for the company. Truist Financial initiated coverage on Palvella Therapeutics in a report on Monday, July 21st. They issued a “buy” rating and a $56.00 target price on the stock. Finally, Raymond James Financial set a $54.00 price target on Palvella Therapeutics and gave the company an “outperform” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $58.50.

Palvella Therapeutics Stock Down 2.1%

NASDAQ PVLA opened at $48.50 on Tuesday. Palvella Therapeutics has a 52 week low of $11.17 and a 52 week high of $50.22. The company has a market capitalization of $536.41 million, a P/E ratio of -4.01 and a beta of -0.01. The stock’s 50-day moving average price is $31.41 and its 200-day moving average price is $25.91.

Palvella Therapeutics (NASDAQ:PVLA) last released its earnings results on Thursday, August 14th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). Research analysts anticipate that Palvella Therapeutics will post -3.69 EPS for the current year.

Hedge Funds Weigh In On Palvella Therapeutics

A number of large investors have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. increased its position in shares of Palvella Therapeutics by 4.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 722,400 shares of the company’s stock worth $16,283,000 after acquiring an additional 32,388 shares during the period. Suvretta Capital Management LLC bought a new position in Palvella Therapeutics in the fourth quarter worth approximately $8,574,000. BVF Inc. IL purchased a new position in Palvella Therapeutics during the 4th quarter worth $8,359,000. Samsara BioCapital LLC bought a new stake in Palvella Therapeutics during the 4th quarter valued at $8,154,000. Finally, Adams Street Partners LLC bought a new stake in Palvella Therapeutics during the 4th quarter valued at $4,916,000. 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.