Chardan Capital Issues Positive Forecast for Palvella Therapeutics (NASDAQ:PVLA) Stock Price

Key Points

• Chardan Capital has raised its price target for Palvella Therapeutics (NASDAQ:PVLA) from $50.00 to $60.00, suggesting an upside of 30.15% from the current price.
• The company has received multiple positive ratings from analysts, with a consensus rating of "Buy" and an average price target of $53.40.
• Palvella Therapeutics recently reported earnings of ($0.74) per share, significantly beating analyst expectations of ($3.40).

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) had its price target raised by research analysts at Chardan Capital from $50.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Chardan Capital's price objective would suggest a potential upside of 30.15% from the stock's current price.

A number of other research analysts have also weighed in on the company. Raymond James Financial set a $54.00 price target on Palvella Therapeutics and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Truist Financial assumed 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. Lifesci Capital assumed coverage on shares of Palvella Therapeutics in a research note on Monday, August 4th. They set an "outperform" rating and a $90.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $38.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, April 30th. Finally, Canaccord Genuity Group reduced their target price on shares of Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $53.40.

Palvella Therapeutics Stock Performance

Shares of PVLA stock opened at $46.10 on Friday. The stock's fifty day moving average is $30.07 and its two-hundred day moving average is $25.09. The firm has a market capitalization of $509.87 million, a P/E ratio of -3.81 and a beta of -0.01. Palvella Therapeutics has a fifty-two week low of $11.17 and a fifty-two week high of $47.50.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.74) earnings per share for the quarter, beating analysts' consensus estimates of ($3.40) by $2.66. On average, equities analysts forecast that Palvella Therapeutics will post -3.69 earnings per share for the current year.

Hedge Funds Weigh In On Palvella Therapeutics

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Palvella Therapeutics in the 2nd quarter valued at about $104,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Palvella Therapeutics during the second quarter worth about $85,000. Marshall Wace LLP grew its position in shares of Palvella Therapeutics by 61.7% during the second quarter. Marshall Wace LLP now owns 49,077 shares of the company's stock worth $1,106,000 after buying an additional 18,732 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Palvella Therapeutics during the second quarter worth about $110,000. Finally, XTX Topco Ltd acquired a new position in shares of Palvella Therapeutics during the second quarter worth about $399,000. 40.11% of the stock is 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.

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