Palvella Therapeutics (NASDAQ:PVLA) Shares Down 5.9% - What's Next?

Key Points

• Palvella Therapeutics shares fell 5.9% to $65.94 with a significant decline in trading volume, indicating a potential decrease in investor interest.
• Despite the recent stock drop, several analysts have given buy ratings and set target prices, with averages suggesting a price target of $75.50, reflecting mixed market sentiment.
• The company reported a loss of ($0.86) earnings per share for its last quarter, missing expectations, as analysts predict an EPS of -3.69 for the current fiscal year.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) shares fell 5.9% on Friday . The company traded as low as $65.93 and last traded at $65.94. 24,498 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 109,129 shares. The stock had previously closed at $70.09.

Wall Street Analyst Weigh In

PVLA has been the topic of a number of analyst reports. Lifesci Capital initiated coverage on shares of Palvella Therapeutics in a research note on Monday, August 4th. They set an "outperform" rating and a $90.00 target price on the stock. Truist Financial upped their target price on shares of Palvella Therapeutics from $56.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Palvella Therapeutics in a report on Wednesday. Chardan Capital raised their price target on Palvella Therapeutics from $60.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Finally, HC Wainwright raised their price objective on shares of Palvella Therapeutics from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Palvella Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $75.50.

Palvella Therapeutics Stock Performance

The company's 50 day simple moving average is $54.08 and its two-hundred day simple moving average is $35.26. The stock has a market cap of $741.90 million, a price-to-earnings ratio of -5.54 and a beta of -0.13.

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

Institutional Investors Weigh In On Palvella Therapeutics

Several large investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. raised its position in 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 valued at $16,283,000 after acquiring an additional 32,388 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Palvella Therapeutics during the 2nd quarter worth $104,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Palvella Therapeutics during the 2nd quarter valued at $85,000. Marshall Wace LLP lifted its stake in shares of Palvella Therapeutics by 61.7% in the 2nd quarter. Marshall Wace LLP now owns 49,077 shares of the company's stock valued at $1,106,000 after purchasing an additional 18,732 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Palvella Therapeutics during the 2nd quarter worth about $110,000. 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.

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