Palvella Therapeutics' (PVLA) Buy Rating Reiterated at Chardan Capital

Key Points

• Chardan Capital reaffirmed a “buy” rating on Palvella Therapeutics and set a $240 price target, implying approximately 80.6% upside from the reported $132.91 share price. Analysts overall rate the stock “Moderate Buy,” with an average target of $209.79.
• Palvella reported a quarterly loss of $1.52 per share, missing the consensus estimate of a $1.17 loss; analysts expect a full-year loss of approximately $6.41 per share.
• Institutional ownership stands at 40.11%, with major investors including BlackRock, First Light Asset Management and Jennison Associates increasing or initiating positions. Insiders, however, sold 61,056 shares worth $8.76 million over the past three months.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Chardan Capital in a research report issued on Wednesday, Benzinga reports. They currently have a $240.00 price objective on the stock. Chardan Capital's target price points to a potential upside of 80.57% from the stock's current price.

Several other equities research analysts have also commented on PVLA. William Blair initiated coverage on shares of Palvella Therapeutics in a research note on Friday, October 16th. They issued an "outperform" rating for the company. HC Wainwright reiterated a "buy" rating on shares of Palvella Therapeutics in a research note on Tuesday, October 20th. Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. Finally, Raymond James Financial set a $226.00 price objective on shares of Palvella Therapeutics in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Palvella Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $209.79.

Palvella Therapeutics Price Performance

NASDAQ:PVLA opened at $132.91 on Wednesday. The firm has a 50-day moving average of $141.42 and a 200-day moving average of $125.93. The company has a market cap of $1.91 billion, a PE ratio of -27.52 and a beta of -0.27. Palvella Therapeutics has a one year low of $68.96 and a one year high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.35). On average, equities research analysts expect that Palvella Therapeutics will post -6.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Palvella Therapeutics

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,313 shares of the firm's stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total value of $537,313.54. Following the completion of the transaction, the chief operating officer directly owned 2,165 shares of the company's stock, valued at $269,715.70. This trade represents a 66.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher P. Kiritsy sold 313 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $157.00, for a total transaction of $49,141.00. Following the completion of the transaction, the director directly owned 250 shares of the company's stock, valued at approximately $39,250. The trade was a 55.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,056 shares of company stock valued at $8,756,946 in the last three months. Company insiders own 17.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Palvella Therapeutics in the 2nd quarter valued at $140,343,000. First Light Asset Management LLC boosted its holdings in Palvella Therapeutics by 38.3% in the 1st quarter. First Light Asset Management LLC now owns 980,758 shares of the company's stock valued at $122,251,000 after purchasing an additional 271,617 shares during the period. Jennison Associates LLC boosted its holdings in Palvella Therapeutics by 65.3% in the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company's stock valued at $79,852,000 after purchasing an additional 253,128 shares during the period. Primecap Management Co. CA bought a new position in Palvella Therapeutics in the 2nd quarter valued at $39,150,000. Finally, Siren L.L.C. boosted its holdings in Palvella Therapeutics by 243.3% in the 1st quarter. Siren L.L.C. now owns 257,485 shares of the company's stock valued at $32,096,000 after purchasing an additional 182,485 shares during the period. 40.11% of the stock is owned by institutional investors.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc NASDAQ: PVLA is a clinical-stage biopharmaceutical company focused on developing treatments for patients with serious rare diseases, including conditions that may have limited or no approved therapeutic options.

The company's development programs are based on its QTORIN 3.0 technology platform, which is designed to deliver medicines locally through topical formulations. Palvella has applied the platform to investigational therapies for rare genetic skin disorders and other localized diseases, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella is headquartered in Wayne, Pennsylvania, and conducts research and development activities aimed at serving rare-disease patients in the United States and other potential international markets.