Palvella Therapeutics, Inc. (NASDAQ:PVLA) Given Consensus Recommendation of "Buy" by Analysts

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) has received an average recommendation of "Buy" from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $46.29.

Several analysts recently commented on the stock. Chardan Capital started coverage on shares of Palvella Therapeutics in a research report on Wednesday, April 9th. They set a "buy" rating and a $50.00 price objective on the stock. Canaccord Genuity Group reduced their price objective on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Scotiabank started coverage on shares of Palvella Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 target price for the company. Jones Trading initiated coverage on Palvella Therapeutics in a research note on Tuesday, March 25th. They issued a "buy" rating and a $45.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and set a $38.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, April 30th.

Insider Buying and Selling

In other news, Director George M. Jenkins acquired 2,500 shares of Palvella Therapeutics stock in a transaction on Wednesday, April 9th. The shares were acquired at an average price of $20.13 per share, with a total value of $50,325.00. Following the purchase, the director directly owned 183,171 shares in the company, valued at $3,687,232.23. The trade was a 1.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.50% of the company's stock.

Hedge Funds Weigh In On Palvella Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Spire Wealth Management purchased a new stake in Palvella Therapeutics during the 1st quarter valued at $70,000. Citadel Advisors LLC purchased a new stake in Palvella Therapeutics in the fourth quarter worth about $125,000. Toronto Dominion Bank purchased a new stake in shares of Palvella Therapeutics in the 4th quarter worth approximately $159,000. Geode Capital Management LLC bought a new stake in Palvella Therapeutics during the 4th quarter valued at $171,000. Finally, Cresset Asset Management LLC bought a new stake in Palvella Therapeutics during the fourth quarter valued at about $251,000. 40.11% of the stock is owned by hedge funds and other institutional investors.

Palvella Therapeutics Stock Performance

Palvella Therapeutics stock opened at $23.83 on Thursday. The stock has a market cap of $263.56 million, a price-to-earnings ratio of -1.97 and a beta of -0.11. The stock's 50 day simple moving average is $23.34 and its two-hundred day simple moving average is $20.61. Palvella Therapeutics has a fifty-two week low of $6.20 and a fifty-two week high of $29.27.

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

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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