Palvella Therapeutics (NASDAQ:PVLA) Sets New 1-Year High - Should You Buy?

Key Points

• Palvella Therapeutics shares reached a new 52-week high of $54.48, up from a previous close of $53.42, with a trading volume of 122 shares.
• Several analysts have increased their price targets for the stock, with targets now ranging from $56.00 to $90.00, and a consensus rating of Buy.
• The company reported a quarterly loss of ($0.86) EPS, which was below the consensus estimate, as institutional investors continue to buy into the stock.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $54.48 and last traded at $54.48, with a volume of 122 shares traded. The stock had previously closed at $53.42.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PVLA shares. HC Wainwright increased their target price on Palvella Therapeutics from $38.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Chardan Capital increased their price target on Palvella Therapeutics from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Lifesci Capital initiated coverage on Palvella Therapeutics in a research note on Monday, August 4th. They set an "outperform" rating and a $90.00 target price for the company. 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. Finally, Canaccord Genuity Group raised 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. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to data from MarketBeat, Palvella Therapeutics currently has a consensus rating of "Buy" and an average price target of $58.50.

Palvella Therapeutics Stock Performance

The stock has a fifty day moving average price of $36.14 and a 200 day moving average price of $27.92.

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

Institutional Trading of Palvella Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. grew its holdings in Palvella Therapeutics by 4.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 722,400 shares of the company's stock valued at $16,283,000 after buying an additional 32,388 shares during the last quarter. Suvretta Capital Management LLC acquired a new stake in Palvella Therapeutics in the 4th quarter valued at approximately $8,574,000. BVF Inc. IL acquired a new stake in Palvella Therapeutics in the 4th quarter valued at approximately $8,359,000. Adams Street Partners LLC acquired a new stake in Palvella Therapeutics in the 4th quarter valued at approximately $4,916,000. Finally, Millennium Management LLC acquired a new stake in Palvella Therapeutics in the 1st quarter valued at approximately $7,553,000. Institutional investors and hedge funds own 40.11% of the company's stock.

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.