Palvella Therapeutics, Inc. (NASDAQ:PVLA) Receives Average Rating of "Buy" from Brokerages

Shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) have been assigned a consensus rating of "Buy" from the eight ratings firms that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $46.29.

A number of brokerages recently weighed in on PVLA. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, April 30th. Jones Trading assumed coverage on shares of Palvella Therapeutics in a research note on Tuesday, March 25th. They set a "buy" rating and a $45.00 target price for the company. Canaccord Genuity Group reduced their target price on shares of Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Stifel Nicolaus assumed coverage on shares of Palvella Therapeutics in a research note on Wednesday, March 26th. They set a "buy" rating and a $45.00 target price for the company. Finally, Chardan Capital assumed coverage on shares of Palvella Therapeutics in a research note on Wednesday, April 9th. They set a "buy" rating and a $50.00 target price for the company.

Palvella Therapeutics Price Performance

Shares of NASDAQ:PVLA traded up $0.29 during trading on Thursday, reaching $24.12. 40,233 shares of the company's stock traded hands, compared to its average volume of 132,679. Palvella Therapeutics has a 12 month low of $6.20 and a 12 month high of $29.27. The company has a 50 day moving average of $23.29 and a 200-day moving average of $20.72. The stock has a market capitalization of $266.77 million, a P/E ratio of -1.99 and a beta of -0.11.

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. Equities research analysts predict that Palvella Therapeutics will post -3.69 earnings per share for the current fiscal year.

Insider Transactions at Palvella Therapeutics

In related news, Director George M. Jenkins purchased 2,500 shares of Palvella Therapeutics stock in a transaction dated Wednesday, April 9th. The stock was bought at an average cost of $20.13 per share, with a total value of $50,325.00. Following the purchase, the director owned 183,171 shares in the company, valued at approximately $3,687,232.23. The trade was a 1.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.50% of the stock is owned by insiders.

Institutional Trading of Palvella Therapeutics

A number of institutional investors have recently made changes to their positions in PVLA. Spire Wealth Management acquired a new stake in shares of Palvella Therapeutics in the 1st quarter worth approximately $70,000. Citadel Advisors LLC acquired a new stake in shares of Palvella Therapeutics in the 4th quarter worth approximately $125,000. Toronto Dominion Bank acquired a new stake in shares of Palvella Therapeutics in the 4th quarter worth approximately $159,000. Geode Capital Management LLC acquired a new stake in shares of Palvella Therapeutics in the 4th quarter worth approximately $171,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Palvella Therapeutics in the 4th quarter worth approximately $251,000. 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.