Canaccord Genuity Group Raises Palvella Therapeutics (NASDAQ:PVLA) Price Target to $66.00

Key Points

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Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) had its target price lifted by Canaccord Genuity Group from $52.00 to $66.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 33.77% from the company's current price.

PVLA has been the topic of several other reports. Raymond James Financial set a $54.00 price target on shares of Palvella Therapeutics and gave the company an "outperform" rating in a report on Tuesday, August 5th. HC Wainwright upped their price target on shares of Palvella Therapeutics from $38.00 to $75.00 and gave the stock a "buy" rating in a report on Friday. Lifesci Capital started coverage on shares of 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 shares of Palvella Therapeutics in a research report on Monday, July 21st. They set a "buy" rating and a $56.00 price objective for the company. Finally, Chardan Capital increased their price objective on shares of Palvella Therapeutics from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $58.50.

Palvella Therapeutics Trading Down 0.4%

NASDAQ:PVLA traded down $0.21 during mid-day trading on Tuesday, hitting $49.34. The company's stock had a trading volume of 47,932 shares, compared to its average volume of 95,420. The company has a market capitalization of $545.70 million, a price-to-earnings ratio of -4.08 and a beta of -0.01. The stock has a fifty day moving average of $30.97 and a 200-day moving average of $25.75. Palvella Therapeutics has a fifty-two week low of $11.17 and a fifty-two week high of $50.22.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.08). On average, equities analysts anticipate that Palvella Therapeutics will post -3.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in Palvella Therapeutics in the 2nd quarter worth approximately $37,000. Spire Wealth Management bought a new position in shares of Palvella Therapeutics in the 1st quarter worth $70,000. JPMorgan Chase & Co. grew its holdings in Palvella Therapeutics by 108,066.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock worth $73,000 after acquiring an additional 3,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Palvella Therapeutics in the 2nd quarter worth $85,000. Finally, BNP Paribas Financial Markets purchased a new position in Palvella Therapeutics during the 2nd quarter valued at about $104,000. 40.11% of the stock is currently owned by hedge funds and other institutional investors.

Palvella Therapeutics Company Profile

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.

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