Palvella Therapeutics (NASDAQ:PVLA) Coverage Initiated at Lifesci Capital

Key Points

• Analysts at Lifesci Capital have initiated coverage on Palvella Therapeutics (NASDAQ:PVLA) with an "outperform" rating and a price target of $90.00, indicating a potential upside of 146.24%.
• The stock has received favorable ratings from multiple analysts, with an average consensus rating of "Buy" and a price target of $52.22.
• Palvella Therapeutics has recently faced significant funding interest, with hedge funds acquiring substantial stakes, contributing to institutional ownership of 40.11% of the company's stock.

Lifesci Capital began coverage on shares of Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) in a report issued on Monday, MarketBeat reports. The firm set an "outperform" rating and a $90.00 price target on the stock. Lifesci Capital's target price would suggest a potential upside of 140.00% from the stock's previous close.

PVLA has been the topic of several other reports. Truist Financial began coverage on shares of Palvella Therapeutics in a report on Monday, July 21st. They set a "buy" rating and a $56.00 price target on the stock. Chardan Capital started coverage on shares of Palvella Therapeutics in a research note on Wednesday, April 9th. They issued a "buy" rating and a $50.00 target price on the stock. Canaccord Genuity Group dropped 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. Finally, HC Wainwright restated a "buy" rating and issued a $38.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, April 30th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $52.22.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA traded up $0.30 during mid-day trading on Monday, hitting $37.50. 18,883 shares of the company's stock traded hands, compared to its average volume of 92,538. The company's 50-day moving average is $27.28 and its two-hundred day moving average is $23.66. The company has a market capitalization of $414.75 million, a P/E ratio of -3.10 and a beta of -0.01. Palvella Therapeutics has a 1 year low of $11.17 and a 1 year high of $40.50.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.40) by $2.66. Equities analysts anticipate that Palvella Therapeutics will post -3.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Palvella Therapeutics

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC purchased a new stake in Palvella Therapeutics during the fourth quarter valued at approximately $171,000. ADAR1 Capital Management LLC purchased a new stake in Palvella Therapeutics during the fourth quarter valued at approximately $1,736,000. Renaissance Technologies LLC purchased a new stake in Palvella Therapeutics during the fourth quarter valued at approximately $256,000. Blue Owl Capital Holdings LP purchased a new stake in Palvella Therapeutics during the fourth quarter valued at approximately $3,001,000. Finally, Nantahala Capital Management LLC purchased a new stake in Palvella Therapeutics during the fourth quarter valued at approximately $3,001,000. Hedge funds and other institutional investors own 40.11% of the company's stock.

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.