Palvella Therapeutics (NASDAQ:PVLA) Hits New 1-Year High - Here's Why

Key Points

• Palvella Therapeutics (NASDAQ:PVLA) reached a new 52-week high of $66.13 during trading on Monday, reflecting strong investor interest with a trading volume of 826 shares.
• Analysts have mixed ratings for Palvella Therapeutics, with Raymond James upgrading its price target to $54, while Truist Financial raised it to $80 and Lifesci Capital set a target of $90.
• The company reported a loss of ($0.86) per share in its last quarterly earnings, missing the consensus estimate, and analysts predict it will post a cumulative loss of -$3.69 EPS for the current year.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $66.13 and last traded at $66.13, with a volume of 826 shares trading hands. The stock had previously closed at $65.78.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PVLA shares. Raymond James Financial set a $54.00 price objective on shares of Palvella Therapeutics and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Palvella Therapeutics in a report on Saturday, September 27th. Truist Financial increased their price objective on Palvella Therapeutics from $56.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday. Chardan Capital lifted their price objective on shares of Palvella Therapeutics from $60.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Finally, Lifesci Capital initiated coverage on Palvella Therapeutics in a report on Monday, August 4th. They set an "outperform" rating and a $90.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $69.27.

Palvella Therapeutics Stock Up 2.8%

The company has a fifty day moving average price of $51.46 and a 200 day moving average price of $34.16. The stock has a market cap of $747.99 million, a PE ratio of -5.59 and a beta of -0.13.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). As a group, research analysts predict that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Institutional Trading of Palvella Therapeutics

Large investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in Palvella Therapeutics during the 2nd quarter valued at about $37,000. Spire Wealth Management purchased a new position in Palvella Therapeutics during the 1st quarter valued at $70,000. JPMorgan Chase & Co. raised its holdings in Palvella Therapeutics by 108,066.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock worth $73,000 after purchasing an additional 3,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter worth about $85,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter worth about $104,000. 40.11% of the stock is 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.

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