Palvella Therapeutics (NASDAQ:PVLA) Given New $246.00 Price Target at HC Wainwright

Key Points

• HC Wainwright lowered its price target for Palvella Therapeutics from $270 to $246 while maintaining a “buy” rating, implying 77.27% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $207.43, though the company reported a quarterly EPS loss of $1.52, missing estimates.
• Palvella shares opened at $138.77, while insiders sold 36,417 shares worth approximately $5.53 million during the last quarter; institutional investors own 40.11% of the stock.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) had its price objective decreased by stock analysts at HC Wainwright from $270.00 to $246.00 in a report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 77.27% from the company's previous close.

Several other brokerages have also recently weighed in on PVLA. Truist Financial set a $207.00 target price on Palvella Therapeutics in a report on Wednesday, August 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Palvella Therapeutics in a research report on Friday, September 25th. Chardan Capital initiated coverage on Palvella Therapeutics in a research note on Monday, September 21st. They issued a "buy" rating and a $240.00 price target on the stock. Finally, Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Palvella Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $207.43.

Palvella Therapeutics Stock Performance

PVLA stock opened at $138.77 on Monday. The firm has a market cap of $2.00 billion, a P/E ratio of -28.73 and a beta of -0.27. The firm's fifty day moving average is $147.99 and its 200 day moving average is $134.10. Palvella Therapeutics has a 52 week low of $65.93 and a 52 week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.35). As a group, analysts forecast that Palvella Therapeutics will post -6.40 EPS for the current year.

Insider Buying and Selling at Palvella Therapeutics

In other news, Director Christopher Kiritsy sold 313 shares of the company's stock in a transaction dated 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. This represents a 55.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George Jenkins sold 13,352 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $151.96, for a total transaction of $2,028,969.92. Following the sale, the director owned 161,893 shares of the company's stock, valued at approximately $24,601,260.28. This represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 36,417 shares of company stock worth $5,526,138. 17.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. KBC Group NV purchased a new position in Palvella Therapeutics during the 1st quarter valued at $28,000. Northwestern Mutual Wealth Management Co. bought a new position in Palvella Therapeutics in the 2nd quarter worth $35,000. Archer Investment Corp bought a new position in Palvella Therapeutics in the 2nd quarter worth $69,000. Quantbot Technologies LP bought a new position in Palvella Therapeutics in the 2nd quarter worth $71,000. Finally, State of Wyoming purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter worth about $134,000. 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 therapies for patients with rare and serious diseases. The company's work centers on localized treatments intended to address conditions for which existing therapeutic options are limited.

Palvella's lead investigational product is QTORIN 3.9%, a topical formulation of sirolimus designed to deliver the medicine directly to affected areas of the skin. The product is being developed for microcystic lymphatic malformations, rare vascular anomalies that can cause swelling, pain and disfigurement.

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