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

Key Points

• Palvella Therapeutics, Inc. (NASDAQ:PVLA) has received an average rating of "Buy" from twelve brokerages, with eleven recommending a buy and one a strong buy.
• The average target price for PVLA among analysts is $60.91, with several firms providing target prices ranging from $56.00 to $85.00.
• Palvella's stock has seen a recent decline of 3.9% and reported a quarterly EPS of ($0.86), which missed expectations by $0.08.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) has earned a consensus rating of "Buy" from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $60.9091.

A number of research analysts recently weighed in on the stock. Oppenheimer began coverage on shares of Palvella Therapeutics in a report on Tuesday, September 9th. They issued an "outperform" rating and a $85.00 target price for the company. Truist Financial assumed coverage on Palvella Therapeutics in a research note on Monday, July 21st. They issued a "buy" rating and a $56.00 price objective for the company. Lifesci Capital started coverage on Palvella Therapeutics in a research report on Monday, August 4th. They set an "outperform" rating and a $90.00 price target for the company. Raymond James Financial set a $54.00 target price on Palvella Therapeutics and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group increased their target price on shares of Palvella Therapeutics from $52.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, August 19th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PVLA. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Palvella Therapeutics in the second quarter worth $37,000. Spire Wealth Management bought a new position in shares of Palvella Therapeutics during the 1st quarter worth approximately $70,000. JPMorgan Chase & Co. lifted its stake in shares of Palvella Therapeutics by 108,066.7% in the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock valued at $73,000 after buying an additional 3,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Palvella Therapeutics during the 2nd quarter worth approximately $85,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Palvella Therapeutics in the second quarter valued at $104,000. 40.11% of the stock is owned by institutional investors.

Palvella Therapeutics Stock Performance

NASDAQ:PVLA traded down $0.80 during trading hours on Tuesday, reaching $58.24. The stock had a trading volume of 326,756 shares, compared to its average volume of 117,046. The stock has a 50 day simple moving average of $45.84 and a 200 day simple moving average of $31.69. The stock has a market cap of $644.13 million, a P/E ratio of -4.81 and a beta of -0.03. Palvella Therapeutics has a 12-month low of $11.17 and a 12-month high of $63.12.

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