Palvella Therapeutics (NASDAQ:PVLA) Receives $44.43 Average Price Target from Brokerages

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) has earned a consensus rating of "Buy" from the eight ratings firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $46.29.

Several equities research analysts recently commented on PVLA shares. Chardan Capital started coverage on shares of Palvella Therapeutics in a research note on Wednesday, April 9th. They set a "buy" rating and a $50.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and set a $38.00 target price on shares of Palvella Therapeutics in a report on Wednesday, April 30th. Canaccord Genuity Group cut their price target on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday. Jones Trading started coverage on Palvella Therapeutics in a research note on Tuesday, March 25th. They set a "buy" rating and a $45.00 price objective for the company. Finally, Scotiabank initiated coverage on Palvella Therapeutics in a report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 target price on the stock.

Palvella Therapeutics Price Performance

Shares of NASDAQ:PVLA traded up $0.44 during trading on Wednesday, hitting $22.05. The stock had a trading volume of 36,544 shares, compared to its average volume of 69,291. Palvella Therapeutics has a 12 month low of $6.20 and a 12 month high of $29.27. The company has a market cap of $243.50 million, a P/E ratio of -1.82 and a beta of 0.10. The company has a fifty day moving average of $24.61.

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

Insider Activity at Palvella Therapeutics

In other news, Director George M. Jenkins purchased 2,500 shares of Palvella Therapeutics stock in a transaction that occurred on 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Palvella Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Suvretta Capital Management LLC bought a new stake in shares of Palvella Therapeutics during the fourth quarter valued at approximately $8,574,000. BVF Inc. IL bought a new stake in shares of Palvella Therapeutics during the fourth quarter valued at approximately $8,359,000. Frazier Life Sciences Management L.P. increased its position in shares of Palvella Therapeutics by 5.5% during the first quarter. Frazier Life Sciences Management L.P. now owns 690,012 shares of the company's stock valued at $19,313,000 after acquiring an additional 36,120 shares in the last quarter. Samsara BioCapital LLC bought a new stake in shares of Palvella Therapeutics during the fourth quarter valued at approximately $8,154,000. Finally, Adams Street Partners LLC bought a new stake in shares of Palvella Therapeutics during the fourth quarter valued at approximately $4,916,000. 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.