Palvella Therapeutics (NASDAQ:PVLA) Price Target Raised to $240.00

Key Points

• Chardan Capital raised its price target to $240 (from $210) and maintained a "buy" rating, implying about a 92.5% upside; several other brokers also boosted targets and the consensus rating is a "Moderate Buy" with an average target of $198.07.
• Shares traded up 12.6% to $124.65 on heavy volume despite the company missing quarterly EPS (reported -$1.08 vs. -$0.95 expected) and analysts forecasting -3.69 EPS for the year; market cap is about $1.48 billion.
• Notable insider and institutional activity: COO Kathleen Goin sold 4,302 shares at ~$118 while Director George M. Jenkins bought 4,000 shares at $125 (bringing his stake to 187,171 shares); insiders own 20.5% and institutions own 40.11% of the stock.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) had its price target raised by equities researchers at Chardan Capital from $210.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Chardan Capital's target price indicates a potential upside of 92.54% from the stock's previous close.

Several other brokerages have also weighed in on PVLA. Stifel Nicolaus set a $250.00 target price on Palvella Therapeutics in a report on Tuesday, February 24th. Raymond James Financial reissued a "strong-buy" rating and set a $193.00 price target on shares of Palvella Therapeutics in a research report on Tuesday, December 16th. Weiss Ratings restated a "sell (d)" rating on shares of Palvella Therapeutics in a research note on Monday, December 29th. TD Cowen reaffirmed a "buy" rating on shares of Palvella Therapeutics in a report on Monday, February 2nd. Finally, Mizuho boosted their target price on shares of Palvella Therapeutics from $205.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Palvella Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $198.07.

Palvella Therapeutics Trading Up 12.6%

Shares of NASDAQ:PVLA traded up $13.99 on Tuesday, reaching $124.65. 548,620 shares of the company were exchanged, compared to its average volume of 315,123. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -47.40 and a beta of -0.30. Palvella Therapeutics has a 1-year low of $18.23 and a 1-year high of $151.18. The company has a 50-day moving average of $104.74 and a 200-day moving average of $91.17.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.13). As a group, analysts forecast that Palvella Therapeutics will post -3.69 earnings per share for the current year.

Insider Activity

In related news, COO Kathleen Goin sold 4,302 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $117.99, for a total transaction of $507,592.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George M. Jenkins acquired 4,000 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $125.00 per share, with a total value of $500,000.00. Following the completion of the acquisition, the director directly owned 187,171 shares of the company's stock, valued at $23,396,375. This represents a 2.18% increase in their position. The SEC filing for this purchase provides additional information. 20.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PVLA. Suvretta Capital Management LLC lifted its stake in shares of Palvella Therapeutics by 8.5% during the fourth quarter. Suvretta Capital Management LLC now owns 892,400 shares of the company's stock valued at $93,408,000 after acquiring an additional 70,000 shares during the period. Frazier Life Sciences Management L.P. increased its position in Palvella Therapeutics by 4.7% in the second quarter. Frazier Life Sciences Management L.P. now owns 722,400 shares of the company's stock worth $16,283,000 after purchasing an additional 32,388 shares during the period. First Light Asset Management LLC raised its holdings in Palvella Therapeutics by 30.9% during the 4th quarter. First Light Asset Management LLC now owns 709,141 shares of the company's stock worth $74,226,000 after purchasing an additional 167,597 shares during the last quarter. Vanguard Group Inc. raised its holdings in Palvella Therapeutics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 560,616 shares of the company's stock worth $58,680,000 after purchasing an additional 65,960 shares during the last quarter. Finally, State Street Corp lifted its position in Palvella Therapeutics by 206.3% during the 4th quarter. State Street Corp now owns 420,462 shares of the company's stock valued at $44,010,000 after purchasing an additional 283,211 shares during the period. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc NASDAQ: PVLA is a clinical‐stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small‐molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil‐ and complement‐mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella's pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.

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