Palvella Therapeutics (NASDAQ:PVLA) Earns Buy Rating from Analysts at Truist Financial

Truist Financial started coverage on shares of Palvella Therapeutics (NASDAQ:PVLA - Free Report) in a research report sent to investors on Monday, Marketbeat reports. The firm issued a buy rating and a $56.00 price target on the stock.

PVLA has been the subject of several other reports. 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. Chardan Capital started coverage on shares of Palvella Therapeutics in a report on Wednesday, April 9th. They set a "buy" rating and a $50.00 target price for the company. HC Wainwright reissued 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 reduced their target price on shares of Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating for the company in a report on Friday, May 16th. Finally, Stifel Nicolaus started coverage on shares of Palvella Therapeutics in a report on Wednesday, March 26th. They set a "buy" rating and a $45.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Palvella Therapeutics presently has a consensus rating of "Buy" and an average target price of $47.50.

Palvella Therapeutics Trading Down 1.0%

Shares of NASDAQ:PVLA traded down $0.38 on Monday, hitting $38.05. 27,247 shares of the company were exchanged, compared to its average volume of 88,503. Palvella Therapeutics has a 1-year low of $11.17 and a 1-year high of $38.74. The stock's 50 day moving average price is $24.85 and its 200 day moving average price is $22.19. The firm has a market capitalization of $420.83 million, a P/E ratio of -3.14 and a beta of -0.11.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in shares of Palvella Therapeutics in the first quarter valued at about $70,000. Citadel Advisors LLC acquired a new stake in shares of Palvella Therapeutics in the fourth quarter valued at about $125,000. Toronto Dominion Bank acquired a new position in Palvella Therapeutics during the fourth quarter worth about $159,000. Geode Capital Management LLC acquired a new position in Palvella Therapeutics during the fourth quarter worth about $171,000. Finally, Goldman Sachs Group Inc. acquired a new position in Palvella Therapeutics during the first quarter worth about $533,000. Hedge funds and other institutional investors 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.