Palvella Therapeutics, Inc. (NASDAQ:PVLA) Stock Has Consensus Target Price of $209.79

Palvella Therapeutics, Inc. (NASDAQ:PVLA) has earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $209.79.

Several brokerages have recently commented on PVLA. HC Wainwright restated a “buy” rating on shares of Palvella Therapeutics in a research note on Tuesday, October 20th. Canaccord Genuity Group set a $232.00 price target on shares of Palvella Therapeutics in a report on Wednesday, August 5th. William Blair started coverage on shares of Palvella Therapeutics in a research note on Friday, October 16th. They issued an “outperform” rating for the company. Chardan Capital began coverage on shares of Palvella Therapeutics in a research note on Monday, September 21st. They issued a “buy” rating and a $240.00 price objective for the company. Finally, Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, August 5th.

Insider Buying and Selling at Palvella Therapeutics

In other Palvella Therapeutics news, Director George Jenkins sold 13,352 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $151.96, for a total value of $2,028,969.92. Following the completion of the sale, the director owned 161,893 shares of the company’s stock, valued at $24,601,260.28. The trade was a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher Kiritsy sold 313 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $157.00, for a total value of $49,141.00. Following the completion of the sale, the director directly owned 250 shares of the company’s stock, valued at $39,250. This represents a 55.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,056 shares of company stock worth $8,756,946 over the last three months. Corporate insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. First Light Asset Management LLC boosted its position in Palvella Therapeutics by 38.3% during the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after purchasing an additional 271,617 shares during the period. BlackRock Inc. acquired a new position in Palvella Therapeutics during the second quarter valued at approximately $140,343,000. Jennison Associates LLC raised its position in shares of Palvella Therapeutics by 65.3% in the first quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock valued at $79,852,000 after purchasing an additional 253,128 shares during the period. Siren L.L.C. raised its position in shares of Palvella Therapeutics by 243.3% in the first quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock valued at $32,096,000 after purchasing an additional 182,485 shares during the period. Finally, Primecap Management Co. CA bought a new position in shares of Palvella Therapeutics in the second quarter valued at approximately $39,150,000. Institutional investors and hedge funds own 40.11% of the company’s stock.

Palvella Therapeutics Stock Performance

Shares of NASDAQ PVLA opened at $132.91 on Wednesday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -27.52 and a beta of -0.27. The business has a 50 day simple moving average of $141.42 and a 200 day simple moving average of $125.93. Palvella Therapeutics has a 52 week low of $68.96 and a 52 week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.35). On average, analysts predict that Palvella Therapeutics will post -6.41 EPS for the current year.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical-stage biopharmaceutical company focused on developing treatments for patients with serious rare diseases, including conditions that may have limited or no approved therapeutic options.

The company’s development programs are based on its QTORIN 3.0 technology platform, which is designed to deliver medicines locally through topical formulations. Palvella has applied the platform to investigational therapies for rare genetic skin disorders and other localized diseases, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella is headquartered in Wayne, Pennsylvania, and conducts research and development activities aimed at serving rare-disease patients in the United States and other potential international markets.