Palvella Therapeutics (NASDAQ:PVLA) Given Consensus Rating of “Buy” by Brokerages

Shares of Palvella Therapeutics (NASDAQ:PVLA) have been given an average rating of “Buy” by the eight research firms that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $46.29.

Several research firms have weighed in on PVLA. TD Cowen began coverage on Palvella Therapeutics in a research note on Wednesday, February 5th. They set a “buy” rating and a $44.00 target price for the company. Jones Trading began coverage on Palvella Therapeutics in a research note on Tuesday, March 25th. They set a “buy” rating and a $45.00 target price for the company. Scotiabank began coverage on Palvella Therapeutics in a research note on Friday, March 7th. They set a “sector outperform” rating and a $50.00 target price for the company. 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 Palvella Therapeutics in a research note on Wednesday, March 26th. They set a “buy” rating and a $45.00 target price for the company.

Palvella Therapeutics Stock Up 2.0%

Shares of NASDAQ:PVLA opened at $22.05 on Wednesday. The firm has a market capitalization of $243.50 million, a P/E ratio of -1.82 and a beta of 0.10. Palvella Therapeutics has a 1 year low of $6.20 and a 1 year high of $29.27. The business’s 50 day moving average is $24.61.

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

Insider Transactions at Palvella Therapeutics

In related news, Director George M. Jenkins purchased 2,500 shares of the stock in a transaction dated Wednesday, April 9th. The stock was bought at an average cost of $20.13 per share, for a total transaction of $50,325.00. Following the completion of the acquisition, the director now owns 183,171 shares of the company’s stock, valued at approximately $3,687,232.23. This represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.50% of the company’s stock.

Institutional Trading of Palvella Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in Palvella Therapeutics in the fourth quarter valued at $256,000. BML Capital Management LLC acquired a new stake in Palvella Therapeutics in the fourth quarter valued at $506,000. Nantahala Capital Management LLC acquired a new stake in Palvella Therapeutics in the fourth quarter valued at $3,001,000. Geode Capital Management LLC acquired a new stake in Palvella Therapeutics in the fourth quarter valued at $171,000. Finally, Adams Street Partners LLC acquired a new stake in Palvella Therapeutics in the fourth quarter valued at $4,916,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

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.