Palvella Therapeutics (NASDAQ:PVLA) Sets New 52-Week High After Analyst Upgrade

Key Points

• Palvella Therapeutics reached a new 52-week high after Chardan Capital raised its price target to $73.00, maintaining a buy rating on the stock.
• The stock has received multiple upgrades from various analysts, with price targets ranging from $54.00 to $95.00, reflecting strong bullish sentiment.
• Palvella Therapeutics has a market capitalization of $688.49 million, but reported a loss of ($0.86) earnings per share in its latest quarterly results.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) hit a new 52-week high during mid-day trading on Monday after Chardan Capital raised their price target on the stock from $60.00 to $73.00. Chardan Capital currently has a buy rating on the stock. Palvella Therapeutics traded as high as $63.39 and last traded at $62.25, with a volume of 278395 shares. The stock had previously closed at $59.59.

PVLA has been the topic of several other research reports. Lifesci Capital assumed coverage on Palvella Therapeutics in a report on Monday, August 4th. They issued an "outperform" rating and a $90.00 price target on the stock. HC Wainwright upped their price target on Palvella Therapeutics from $75.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday. Raymond James Financial set a $54.00 target price on Palvella Therapeutics and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Stifel Nicolaus upped their target price on Palvella Therapeutics from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Finally, Canaccord Genuity Group increased their price target on Palvella Therapeutics from $52.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $67.09.

Institutional Investors Weigh In On Palvella Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PVLA. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at approximately $37,000. Spire Wealth Management bought a new stake in Palvella Therapeutics in the first quarter valued at $70,000. JPMorgan Chase & Co. boosted its stake in shares of Palvella Therapeutics by 108,066.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock valued at $73,000 after purchasing an additional 3,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Palvella Therapeutics in the second quarter valued at about $85,000. Finally, BNP Paribas Financial Markets acquired a new position in Palvella Therapeutics in the second quarter valued at about $104,000. 40.11% of the stock is owned by institutional investors and hedge funds.

Palvella Therapeutics Stock Up 4.5%

The stock has a market capitalization of $688.49 million, a price-to-earnings ratio of -5.14 and a beta of -0.04. The stock's 50-day simple moving average is $48.78 and its 200 day simple moving average is $32.91.

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 anticipate that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

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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