TD Cowen Forecasts Strong Price Appreciation for Palvella Therapeutics (NASDAQ:PVLA) Stock

Palvella Therapeutics (NASDAQ:PVLA) had its price objective upped by analysts at TD Cowen from $65.00 to $97.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 24.63% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Cantor Fitzgerald lifted their target price on Palvella Therapeutics from $120.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Wednesday, October 8th. HC Wainwright lifted their price objective on shares of Palvella Therapeutics from $95.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer began coverage on shares of Palvella Therapeutics in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $85.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on shares of Palvella Therapeutics from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. 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 company’s stock. Based on data from MarketBeat.com, Palvella Therapeutics has an average rating of “Moderate Buy” and an average price target of $97.58.

Palvella Therapeutics Stock Down 1.0%

PVLA stock opened at $77.83 on Thursday. Palvella Therapeutics has a 52 week low of $11.17 and a 52 week high of $83.00. The firm has a market capitalization of $860.80 million, a P/E ratio of -20.54 and a beta of -0.05. The company has a fifty day simple moving average of $66.13 and a two-hundred day simple moving average of $42.75.

Palvella Therapeutics (NASDAQ:PVLA) last released its earnings results on Thursday, August 14th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). As a group, analysts anticipate that Palvella Therapeutics will post -3.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PVLA. Federated Hermes Inc. acquired a new position in Palvella Therapeutics during the third quarter worth $21,255,000. Vanguard Group Inc. lifted its position in shares of Palvella Therapeutics by 202.0% in the third quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock valued at $31,010,000 after acquiring an additional 330,847 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Palvella Therapeutics in the first quarter valued at about $7,553,000. Woodline Partners LP acquired a new stake in shares of Palvella Therapeutics in the 1st quarter worth $5,435,000. Finally, Clio Asset Management LLC purchased a new position in shares of Palvella Therapeutics during the 2nd quarter worth $2,063,000. Hedge funds and other 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.