Palvella Therapeutics (NASDAQ:PVLA) Given Consensus Recommendation of "Buy" by Analysts

Shares of Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) have been assigned a consensus rating of "Buy" from the eight analysts that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $46.29.

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Palvella Therapeutics in a research note on Wednesday, March 26th. They issued a "buy" rating and a $45.00 price objective on the stock. Jones Trading began coverage on shares of Palvella Therapeutics in a research report on Tuesday, March 25th. They issued a "buy" rating and a $45.00 price target on the stock. Chardan Capital started coverage on shares of Palvella Therapeutics in a research report on Wednesday, April 9th. They set a "buy" rating and a $50.00 price objective for the company. Canaccord Genuity Group reduced their price objective on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, HC Wainwright reiterated a "buy" rating and set a $38.00 target price on shares of Palvella Therapeutics in a research report on Wednesday, April 30th.

Palvella Therapeutics Trading Up 8.1%

Shares of NASDAQ:PVLA opened at $25.40 on Friday. Palvella Therapeutics has a fifty-two week low of $6.20 and a fifty-two week high of $29.27. The stock has a 50-day simple moving average of $23.48. The stock has a market cap of $280.82 million, a price-to-earnings ratio of -2.10 and a beta of -0.10.

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

Insider Activity

In related news, Director George M. Jenkins acquired 2,500 shares of Palvella Therapeutics stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average price of $20.13 per share, for a total transaction of $50,325.00. Following the completion of the transaction, the director now directly owns 183,171 shares in the company, valued at approximately $3,687,232.23. This represents a 1.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.50% of the company's stock.

Hedge Funds Weigh In On Palvella Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Spire Wealth Management bought a new position in shares of Palvella Therapeutics during the 1st quarter valued at about $70,000. Citadel Advisors LLC purchased a new stake in shares of Palvella Therapeutics in the fourth quarter worth about $125,000. Toronto Dominion Bank purchased a new stake in shares of Palvella Therapeutics in the fourth quarter worth about $159,000. Geode Capital Management LLC bought a new position in Palvella Therapeutics during the fourth quarter valued at approximately $171,000. Finally, Goldman Sachs Group Inc. purchased a new position in Palvella Therapeutics during the 1st quarter valued at approximately $533,000. 40.11% of the stock is owned by hedge funds and other 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.

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