Palvella Therapeutics (NASDAQ:PVLA) Sets New 52-Week High - Should You Buy?

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)'s stock price reached a new 52-week high on Thursday . The company traded as high as $60.97 and last traded at $59.73, with a volume of 89476 shares traded. The stock had previously closed at $56.71.

Wall Street Analyst Weigh In

PVLA has been the subject of a number of recent research reports. Truist Financial initiated coverage on Palvella Therapeutics in a research report on Monday, July 21st. They issued a "buy" rating and a $56.00 target price for the company. Oppenheimer initiated coverage on Palvella Therapeutics in a research report on Tuesday, September 9th. They issued an "outperform" rating and a $85.00 target price for the company. Canaccord Genuity Group boosted their target price on Palvella Therapeutics from $52.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. HC Wainwright raised their price target on Palvella Therapeutics from $38.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Finally, Chardan Capital raised their price target on Palvella Therapeutics from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to MarketBeat.com, Palvella Therapeutics has an average rating of "Buy" and an average target price of $60.91.

Palvella Therapeutics Stock Up 0.8%

The stock has a market cap of $608.85 million, a PE ratio of -4.55 and a beta of -0.04. The stock's fifty day moving average price is $43.36 and its 200 day moving average price is $30.82.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last released its quarterly earnings data 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). On average, equities research analysts expect that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palvella Therapeutics

Several hedge funds and other institutional investors 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 in the 2nd quarter worth approximately $37,000. Spire Wealth Management purchased a new position in shares of Palvella Therapeutics in the first quarter worth approximately $70,000. JPMorgan Chase & Co. boosted its holdings in shares of Palvella Therapeutics by 108,066.7% in the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock worth $73,000 after buying an additional 3,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Palvella Therapeutics in the second quarter worth approximately $85,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Palvella Therapeutics in the second quarter worth approximately $104,000. Institutional investors 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.