Analysts Set Palvella Therapeutics, Inc. (NASDAQ:PVLA) Price Target at $58.50

Key Points

• Palvella Therapeutics, Inc. has received a consensus recommendation of "Buy" from eleven research firms, with an average one-year price target of $58.50.
• Recent price target upgrades include Chardan Capital raising its target from $50.00 to $60.00 and HC Wainwright increasing its target from $38.00 to $75.00.
• In the latest quarter, Palvella reported an EPS of ($0.86), missing the consensus estimate of ($0.78).

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) has earned a consensus rating of "Buy" from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $58.50.

Several equities research analysts have issued reports on PVLA shares. Canaccord Genuity Group lifted their target price on shares of Palvella Therapeutics from $52.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. Chardan Capital upped their price target on shares of Palvella Therapeutics from $50.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 15th. Lifesci Capital assumed 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 on the stock. Raymond James Financial set a $54.00 target price on shares of Palvella Therapeutics and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Truist Financial assumed coverage on shares of Palvella Therapeutics in a research report on Monday, July 21st. They issued a "buy" rating and a $56.00 target price on the stock.

Palvella Therapeutics Stock Up 5.0%

PVLA traded up $2.69 during trading on Friday, reaching $56.45. 118,591 shares of the company were exchanged, compared to its average volume of 140,143. The company's 50-day moving average is $34.88 and its two-hundred day moving average is $27.41. Palvella Therapeutics has a 12-month low of $11.17 and a 12-month high of $57.19. The company has a market cap of $624.34 million, a price-to-earnings ratio of -4.67 and a beta of -0.01.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last released 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). Equities analysts forecast that Palvella Therapeutics will post -3.69 earnings per share for the current year.

Hedge Funds Weigh In On Palvella Therapeutics

Hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new position in Palvella Therapeutics in the 2nd quarter worth about $37,000. Spire Wealth Management bought a new position in Palvella Therapeutics in the 1st quarter worth about $70,000. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 3,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Palvella Therapeutics in the 2nd quarter worth about $85,000. Finally, BNP Paribas Financial Markets bought a new position in Palvella Therapeutics during the 2nd quarter valued at about $104,000. Institutional investors own 40.11% of the company's stock.

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.