Palvella Therapeutics (NASDAQ:PVLA) Hits New 1-Year High - What's Next?

Key Points

• Palvella Therapeutics (NASDAQ:PVLA) shares reached a new 52-week high of $63.12, closing at $59.01 with a trading volume of 17,540 shares.
• Multiple analysts have set new price targets for the stock, with Oppenheimer rating it as "outperform" and a target of $85.00, while overall, the average target price is $60.91.
• The company's market capitalization stands at $661.17 million, and it reported a quarterly earnings per share (EPS) of ($0.86), missing estimates by ($0.08).

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $63.12 and last traded at $59.01, with a volume of 17540 shares. The stock had previously closed at $59.04.

Analysts Set New Price Targets

PVLA has been the subject of a number of analyst reports. Chardan Capital raised their price target on shares of Palvella Therapeutics from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Oppenheimer initiated coverage on shares of Palvella Therapeutics in a research note on Tuesday, September 9th. They set an "outperform" rating and a $85.00 price target for the company. HC Wainwright raised their price target on shares of Palvella Therapeutics from $38.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Canaccord Genuity Group lifted their target price 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. Finally, Raymond James Financial set a $54.00 target price on shares of Palvella Therapeutics and gave the company an "outperform" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. According to MarketBeat, Palvella Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $60.91.

Palvella Therapeutics Stock Up 0.1%

The firm has a market cap of $649.78 million, a price-to-earnings ratio of -4.86 and a beta of -0.04. The business's fifty day moving average is $46.46 and its two-hundred day moving average is $32.05.

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

Institutional Trading of Palvella Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in Palvella Therapeutics during the 2nd quarter worth $37,000. Spire Wealth Management acquired a new stake in Palvella Therapeutics during the 1st quarter worth $70,000. JPMorgan Chase & Co. grew its holdings in Palvella Therapeutics by 108,066.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock worth $73,000 after acquiring an additional 3,242 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Palvella Therapeutics during the 2nd quarter worth $85,000. Finally, BNP Paribas Financial Markets acquired a new stake in Palvella Therapeutics during the 2nd quarter worth $104,000. 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.