Palvella Therapeutics (NASDAQ:PVLA) Sets New 52-Week High - What's Next?

Key Points

• Palvella Therapeutics has hit a new 52-week high, trading as high as $60.97, following an increase of 5.3% in its stock price recently.
• Multiple analysts have given the stock a consensus rating of "Buy", with price targets ranging from $54.00 to $75.00.
• The company reported a quarterly loss of ($0.86) per share, which was below analysts' consensus estimate of ($0.78).

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $60.97 and last traded at $59.73, with a volume of 89476 shares trading hands. The stock had previously closed at $56.71.

Analyst Ratings Changes

PVLA has been the topic of several analyst reports. Truist Financial started coverage on shares of Palvella Therapeutics in a report on Monday, July 21st. They set a "buy" rating and a $56.00 price target on the stock. Chardan Capital boosted their target price on Palvella Therapeutics from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Canaccord Genuity Group raised their price target on Palvella Therapeutics from $52.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Raymond James Financial set a $54.00 price objective on Palvella Therapeutics and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, HC Wainwright upped their price target on shares of Palvella Therapeutics from $38.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $60.91.

Palvella Therapeutics Trading Up 5.3%

The firm's 50-day moving average price is $41.42 and its two-hundred day moving average price is $29.89. The stock has a market cap of $660.61 million, a PE ratio of -4.94 and a beta of -0.03.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last posted its 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). On average, analysts anticipate that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Institutional Trading of Palvella Therapeutics

Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of Palvella Therapeutics during the 4th quarter worth approximately $125,000. Spire Wealth Management purchased a new position in Palvella Therapeutics in the first quarter worth $70,000. Strid Group LLC acquired a new position in shares of Palvella Therapeutics during the first quarter worth $818,000. Suvretta Capital Management LLC purchased a new stake in shares of Palvella Therapeutics during the 4th quarter valued at $8,574,000. Finally, Frazier Life Sciences Management L.P. acquired a new stake in shares of Palvella Therapeutics in the 4th quarter worth $7,847,000. 40.11% of the stock is currently owned by institutional investors.

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.

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