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

Key Points

• Palvella Therapeutics' stock reached a new 52-week high of $76.76 during trading, reflecting significant interest and volume of 174,275 shares exchanged.
• Analysts have set various price targets for the stock, with Oppenheimer's target at $85.00 and HC Wainwright's target raised to $95.00, indicating a generally positive outlook despite a mix of ratings.
• The company recently reported a quarterly earnings miss with an EPS of ($0.86), higher than the consensus estimate of ($0.78), as it focuses on therapies for rare genetic skin diseases.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $76.76 and last traded at $76.17, with a volume of 174275 shares trading hands. The stock had previously closed at $69.90.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Oppenheimer assumed coverage on Palvella Therapeutics in a report on Tuesday, September 9th. They set an "outperform" rating and a $85.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Palvella Therapeutics in a report on Wednesday, October 8th. HC Wainwright boosted their price objective on shares of Palvella Therapeutics from $75.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Canaccord Genuity Group raised their target price on Palvella Therapeutics from $66.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Chardan Capital boosted their price target on Palvella Therapeutics from $60.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $75.50.

Palvella Therapeutics Stock Up 9.0%

The business has a 50-day simple moving average of $54.75 and a 200-day simple moving average of $35.66. The company has a market cap of $842.99 million, a PE ratio of -6.30 and a beta of -0.13.

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 (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.08). As a group, equities research analysts predict that Palvella Therapeutics, Inc. will post -3.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Palvella Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Frazier Life Sciences Management L.P. grew its stake 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 in the last quarter. BNP Paribas Financial Markets acquired a new position in Palvella Therapeutics in the second quarter valued at $104,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Palvella Therapeutics during the second quarter worth about $85,000. Marshall Wace LLP increased its position in shares of Palvella Therapeutics by 61.7% during the second quarter. Marshall Wace LLP now owns 49,077 shares of the company's stock worth $1,106,000 after purchasing an additional 18,732 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at about $110,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

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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