Palvella Therapeutics (NASDAQ:PVLA) Price Target Raised to $80.00

Key Points

• Truist Financial raised Palvella Therapeutics' price target from $56.00 to $80.00, indicating a potential upside of 29.55% from the current price and maintaining a "buy" rating.
• Multiple analysts have issued positive ratings, with Oppenheimer setting a price target of $85.00 and HC Wainwright raising theirs to $95.00, contributing to a consensus target price of $69.27.
• Palvella Therapeutics reported a loss of ($0.86) earnings per share for the last quarter, missing analysts' expectations, and is projected to post ($3.69) earnings per share for the current fiscal year.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) had its target price increased by equities researchers at Truist Financial from $56.00 to $80.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective would indicate a potential upside of 29.55% from the company's current price.

A number of other analysts have also weighed in on PVLA. Oppenheimer assumed coverage on shares of Palvella Therapeutics in a research report on Tuesday, September 9th. They issued an "outperform" rating and a $85.00 price objective on the stock. Canaccord Genuity Group increased their price objective on shares of Palvella Therapeutics from $52.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, August 19th. HC Wainwright raised their target price on shares of Palvella Therapeutics from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Chardan Capital raised their target price on shares of Palvella Therapeutics from $60.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Finally, Raymond James Financial set a $54.00 price objective on shares of Palvella Therapeutics and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. According to data from MarketBeat, Palvella Therapeutics has an average rating of "Buy" and a consensus target price of $69.27.

Palvella Therapeutics Stock Performance

Shares of PVLA stock traded down $1.48 during mid-day trading on Thursday, reaching $61.75. 53,934 shares of the company's stock traded hands, compared to its average volume of 105,678. Palvella Therapeutics has a 12 month low of $11.17 and a 12 month high of $65.57. The firm has a 50 day moving average price of $50.44 and a two-hundred day moving average price of $33.57. The firm has a market capitalization of $682.96 million, a PE ratio of -5.10 and a beta of -0.13.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its earnings results 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, equities analysts expect that Palvella Therapeutics will post -3.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palvella Therapeutics

Large investors have recently modified their holdings of the company. Frazier Life Sciences Management L.P. grew its holdings in shares of Palvella Therapeutics by 4.7% during 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 last quarter. Millennium Management LLC purchased a new position in Palvella Therapeutics during the 1st quarter valued at about $7,553,000. Woodline Partners LP purchased a new stake in shares of Palvella Therapeutics during the first quarter worth about $5,435,000. Geode Capital Management LLC boosted its position in shares of Palvella Therapeutics by 84.7% in the second quarter. Geode Capital Management LLC now owns 173,986 shares of the company's stock worth $3,923,000 after acquiring an additional 79,787 shares during the last quarter. Finally, Clio Asset Management LLC acquired a new stake in shares of Palvella Therapeutics in the second quarter worth approximately $2,063,000. 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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