Palvella Therapeutics (NASDAQ:PVLA) Reaches New 12-Month High - Time to Buy?

Key Points

• Palvella Therapeutics (NASDAQ:PVLA) reached a new 52-week high of $45.82 amid trading, with a recent closing price of $45.33.
• Multiple analysts have given the stock a consensus rating of "Buy", with price targets ranging from $38.00 to $90.00.
• The company reported an earnings per share (EPS) of ($0.74), significantly beating the analyst estimate of ($3.40).

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $45.82 and last traded at $45.33, with a volume of 50196 shares trading hands. The stock had previously closed at $43.21.

Analyst Ratings Changes

Several research analysts recently weighed in on PVLA shares. Raymond James Financial set a $54.00 price objective on shares of Palvella Therapeutics and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Truist Financial initiated coverage on Palvella Therapeutics in a research note on Monday, July 21st. They set a "buy" rating and a $56.00 target price on the stock. HC Wainwright set a $75.00 price target on shares of Palvella Therapeutics and gave the stock a "buy" rating in a research note on Friday. Chardan Capital lifted their target price on shares of Palvella Therapeutics from $50.00 to $60.00 and gave the company a "buy" rating in a report on Friday. Finally, Canaccord Genuity Group reduced their price objective on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Palvella Therapeutics has a consensus rating of "Buy" and a consensus target price of $57.10.

Palvella Therapeutics Price Performance

The company's 50-day simple moving average is $30.97 and its two-hundred day simple moving average is $25.75. The firm has a market capitalization of $548.02 million, a P/E ratio of -4.10 and a beta of -0.01.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.08). Analysts predict that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.