Pelthos Therapeutics (NYSEAMERICAN:PTHS) Price Target Raised to $62.00 at Oppenheimer

Key Points

• Oppenheimer raised its price target on Pelthos to $62 (from $60) and kept an "outperform" rating, implying roughly a 175% upside from the current share price.
• Shares traded at about $22.53 with a market cap near $73M; analysts are mixed but the consensus is a "Moderate Buy" with an average target of $56.25 (targets range roughly $48–$62 and include one recent "strong sell").
• Institutional ownership is high (about 77.96%), with several hedge funds sharply increasing stakes in Q4 — notably Ikarian Capital and Boothbay Fund Management.

Pelthos Therapeutics (NYSEAMERICAN:PTHS - Get Free Report) had its target price boosted by investment analysts at Oppenheimer from $60.00 to $62.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price target suggests a potential upside of 175.19% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Piper Sandler initiated coverage on shares of Pelthos Therapeutics in a research note on Friday, February 27th. They issued an "overweight" rating and a $48.00 target price for the company. Zacks Research cut Pelthos Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Friday, January 30th. HC Wainwright reiterated a "buy" rating and set a $60.00 target price on shares of Pelthos Therapeutics in a research note on Thursday. Finally, Roth Mkm decreased their target price on Pelthos Therapeutics from $57.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pelthos Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $56.25.

Pelthos Therapeutics Stock Performance

Shares of PTHS stock traded down $1.55 on Friday, hitting $22.53. The stock had a trading volume of 1,210 shares, compared to its average volume of 9,157. Pelthos Therapeutics has a twelve month low of $9.00 and a twelve month high of $54.29. The company has a fifty day simple moving average of $23.34. The firm has a market cap of $73.00 million, a price-to-earnings ratio of -1.32 and a beta of 3.87.

Hedge Funds Weigh In On Pelthos Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ikarian Capital LLC boosted its holdings in Pelthos Therapeutics by 309.5% during the 4th quarter. Ikarian Capital LLC now owns 255,758 shares of the company's stock worth $7,928,000 after acquiring an additional 193,307 shares during the last quarter. Boothbay Fund Management LLC boosted its holdings in Pelthos Therapeutics by 279.8% during the fourth quarter. Boothbay Fund Management LLC now owns 80,680 shares of the company's stock worth $2,501,000 after purchasing an additional 59,435 shares during the last quarter. J. Goldman & Co LP bought a new stake in Pelthos Therapeutics in the 4th quarter worth about $2,418,000. Cantor Fitzgerald L. P. purchased a new stake in Pelthos Therapeutics in the 4th quarter valued at about $1,085,000. Finally, Diadema Partners LP lifted its position in shares of Pelthos Therapeutics by 138.1% during the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company's stock worth $775,000 after buying an additional 14,502 shares in the last quarter. 77.96% of the stock is owned by institutional investors and hedge funds.

Pelthos Therapeutics Company Profile

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).

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