Palvella Therapeutics (NASDAQ:PVLA) Receives Consensus Rating of "Buy" from Brokerages

Shares of Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) have been given an average rating of "Buy" by the eight brokerages that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $46.29.

A number of equities analysts have recently issued reports on the company. Scotiabank began coverage on Palvella Therapeutics in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $38.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, April 30th. Canaccord Genuity Group lowered their target price on shares of Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Friday. TD Cowen initiated coverage on shares of Palvella Therapeutics in a research report on Wednesday, February 5th. They set a "buy" rating and a $44.00 target price for the company. Finally, Jones Trading initiated coverage on shares of Palvella Therapeutics in a research note on Tuesday, March 25th. They set a "buy" rating and a $45.00 price objective for the company.

Palvella Therapeutics Stock Down 2.3%

Shares of NASDAQ:PVLA traded down $0.50 during trading on Wednesday, hitting $21.55. 7,565 shares of the company were exchanged, compared to its average volume of 68,601. The firm has a market cap of $237.98 million, a P/E ratio of -1.78 and a beta of 0.10. Palvella Therapeutics has a 1-year low of $6.20 and a 1-year high of $29.27. The stock has a 50 day simple moving average of $24.61.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PVLA. Spire Wealth Management acquired a new stake in shares of Palvella Therapeutics in the 1st quarter worth about $70,000. Citadel Advisors LLC acquired a new position in shares of Palvella Therapeutics in the 4th quarter worth approximately $125,000. Toronto Dominion Bank acquired a new position in shares of Palvella Therapeutics in the 4th quarter worth approximately $159,000. Geode Capital Management LLC acquired a new position in shares of Palvella Therapeutics in the fourth quarter worth about $171,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Palvella Therapeutics during the first quarter worth approximately $533,000. 40.11% of the stock is currently owned by institutional investors.

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.