Palvella Therapeutics (NASDAQ:PVLA) Now Covered by Analysts at Oppenheimer

Key Points

• Oppenheimer has initiated coverage on Palvella Therapeutics, setting an "outperform" rating with a price target of $85.00, indicating a potential upside of 54.49% from the stock's previous close.
• Palvella Therapeutics has received positive ratings from multiple analysts, with the average target price being $60.91, and a majority giving it a "buy" or "strong buy" rating.
• The company, focused on developing treatments for rare genetic skin diseases, reported a quarterly loss of ($0.86) EPS, missing analysts' expectations of ($0.78).

Oppenheimer assumed coverage on shares of Palvella Therapeutics (NASDAQ:PVLA - Free Report) in a report issued on Tuesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $85.00 price target on the stock.

A number of other brokerages have also commented on PVLA. Raymond James Financial set a $54.00 target price on Palvella Therapeutics and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group upped their target price on Palvella Therapeutics from $52.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, August 19th. HC Wainwright upped their target price on Palvella Therapeutics from $38.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Lifesci Capital started coverage on Palvella Therapeutics in a research note on Monday, August 4th. They issued an "outperform" rating and a $90.00 target price for the company. Finally, Truist Financial started coverage on Palvella Therapeutics in a research note on Monday, July 21st. They issued a "buy" rating and a $56.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat.com, Palvella Therapeutics has a consensus rating of "Buy" and a consensus target price of $60.91.

Palvella Therapeutics Stock Down 2.8%

Shares of PVLA stock traded down $1.61 during trading hours on Tuesday, reaching $56.84. 147,562 shares of the company's stock were exchanged, compared to its average volume of 98,454. Palvella Therapeutics has a fifty-two week low of $11.17 and a fifty-two week high of $61.48. The stock has a market capitalization of $628.65 million, a P/E ratio of -4.70 and a beta of -0.03. The business has a fifty day moving average price of $42.11 and a 200-day moving average price of $30.15.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.08). As a group, research analysts expect that Palvella Therapeutics will post -3.69 EPS for the current fiscal year.

Institutional Trading of Palvella Therapeutics

Large investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new stake in Palvella Therapeutics in the fourth quarter valued at $125,000. Spire Wealth Management bought a new stake in Palvella Therapeutics in the first quarter valued at $70,000. Strid Group LLC bought a new stake in Palvella Therapeutics in the first quarter valued at $818,000. Suvretta Capital Management LLC bought a new stake in Palvella Therapeutics in the fourth quarter valued at $8,574,000. Finally, Frazier Life Sciences Management L.P. bought a new stake in Palvella Therapeutics in the fourth quarter valued at $7,847,000. 40.11% of the stock is currently owned by institutional investors.

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.