Palvella Therapeutics (NASDAQ:PVLA) Trading Up 6.6% on Analyst Upgrade

Shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) shot up 6.6% on Tuesday after Canaccord Genuity Group raised their price target on the stock from $148.00 to $204.00. Canaccord Genuity Group currently has a buy rating on the stock. Palvella Therapeutics traded as high as $95.08 and last traded at $94.81. 136,382 shares were traded during mid-day trading, an increase of 3% from the average session volume of 131,872 shares. The stock had previously closed at $88.98.

Other analysts have also issued research reports about the stock. BTIG Research lifted their target price on shares of Palvella Therapeutics from $167.00 to $192.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright set a $200.00 price objective on Palvella Therapeutics in a research note on Monday. Truist Financial upped their price objective on Palvella Therapeutics from $105.00 to $190.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer restated an “outperform” rating and set a $200.00 target price on shares of Palvella Therapeutics in a report on Monday. Finally, Chardan Capital boosted their target price on Palvella Therapeutics from $110.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $155.60.

Insider Activity

In other news, COO Kathleen Goin sold 4,302 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $86.23, for a total value of $370,961.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 20.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palvella Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Archer Investment Corp bought a new position in shares of Palvella Therapeutics in the 3rd quarter valued at about $28,000. Russell Investments Group Ltd. bought a new position in Palvella Therapeutics in the third quarter valued at approximately $36,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Palvella Therapeutics during the 2nd quarter worth approximately $37,000. AlphaQuest LLC acquired a new position in shares of Palvella Therapeutics during the 3rd quarter worth approximately $164,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Palvella Therapeutics by 108,066.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company’s stock worth $73,000 after purchasing an additional 3,242 shares in the last quarter. 40.11% of the stock is owned by institutional investors.

Palvella Therapeutics Stock Performance

The firm has a fifty day moving average price of $83.82 and a 200 day moving average price of $55.62. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -36.10 and a beta of -0.20.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.18). On average, analysts expect that Palvella Therapeutics, Inc. will post -3.69 EPS for the current fiscal year.

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.