Palvella Therapeutics (NASDAQ:PVLA) Stock Price Target Raised at Oppenheimer

Key Points

• Oppenheimer raised its price target on Palvella Therapeutics from $210 to $232 and maintained an “outperform” rating, implying 32.4% upside from the then-current share price.
• Analyst sentiment is broadly positive: MarketBeat reported a “Moderate Buy” consensus and an average price target of $213, though one analyst rated the stock a sell.
• Shares rose to $175.22 in Friday trading. The company reported a quarterly loss of $1.70 per share, narrower than analysts’ $1.78 estimate.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) had its price target hoisted by research analysts at Oppenheimer from $210.00 to $232.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's target price would suggest a potential upside of 32.40% from the stock's current price.

Several other analysts have also commented on the stock. HC Wainwright reiterated a "buy" rating on shares of Palvella Therapeutics in a report on Tuesday, October 20th. Chardan Capital reiterated a "buy" rating and issued a $240.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, October 28th. Raymond James Financial set a $226.00 target price on Palvella Therapeutics in a research note on Friday, October 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Palvella Therapeutics in a research report on Friday, September 25th. Finally, William Blair started coverage on Palvella Therapeutics in a research note on Friday, October 16th. They issued an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Palvella Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $213.00.

Palvella Therapeutics Stock Performance

Shares of NASDAQ:PVLA traded up $18.38 during midday trading on Friday, hitting $175.22. The company's stock had a trading volume of 116,088 shares, compared to its average volume of 260,139. The business's 50 day simple moving average is $142.03 and its 200 day simple moving average is $127.73. The company has a market cap of $2.52 billion, a P/E ratio of -36.36 and a beta of -0.21. Palvella Therapeutics has a 12-month low of $72.22 and a 12-month high of $174.60.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($1.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.78) by $0.08. On average, sell-side analysts predict that Palvella Therapeutics will post -6.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Palvella Therapeutics

In related news, Director Christopher P. Kiritsy sold 313 shares of Palvella Therapeutics stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $157.00, for a total value of $49,141.00. Following the completion of the transaction, the director owned 250 shares in the company, valued at approximately $39,250. The trade was a 55.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kathleen Goin sold 4,313 shares of the company's stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $124.58, for a total transaction of $537,313.54. Following the sale, the chief operating officer directly owned 2,165 shares in the company, valued at approximately $269,715.70. The trade was a 66.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 61,056 shares of company stock valued at $8,756,946 in the last three months. 17.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palvella Therapeutics

Institutional investors have recently modified their holdings of the business. Nan Fung Trinity HK Ltd. purchased a new stake in shares of Palvella Therapeutics in the 3rd quarter valued at approximately $7,259,000. Keybank National Association OH lifted its position in shares of Palvella Therapeutics by 30.7% during the 3rd quarter. Keybank National Association OH now owns 3,898 shares of the company's stock worth $538,000 after purchasing an additional 915 shares during the last quarter. Ethic Inc. acquired a new position in shares of Palvella Therapeutics during the third quarter worth $308,000. Alps Advisors Inc. grew its stake in shares of Palvella Therapeutics by 33.0% during the third quarter. Alps Advisors Inc. now owns 19,099 shares of the company's stock worth $2,634,000 after purchasing an additional 4,743 shares in the last quarter. Finally, Calamos Advisors LLC increased its holdings in Palvella Therapeutics by 27.5% in the third quarter. Calamos Advisors LLC now owns 13,361 shares of the company's stock valued at $1,843,000 after buying an additional 2,882 shares during the last quarter. Institutional investors and hedge funds own 40.11% of the company's stock.

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.

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