Palvella Therapeutics (NASDAQ:PVLA) Stock Picked Up by Analysts at HC Wainwright

Stock analysts at HC Wainwright assumed coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a report issued on Friday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

Other equities research analysts have also issued research reports about the company. Oppenheimer lifted their price target on Palvella Therapeutics from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial set a $207.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. William Blair initiated coverage on Palvella Therapeutics in a research report on Friday, October 16th. They issued an “outperform” rating for the company. Raymond James Financial set a $226.00 target price on Palvella Therapeutics in a research note on Friday, October 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $213.00.

Palvella Therapeutics Stock Up 12.2%

Shares of NASDAQ PVLA traded up $19.07 during mid-day trading on Friday, reaching $175.92. 502,014 shares of the company were exchanged, compared to its average volume of 237,190. Palvella Therapeutics has a 52 week low of $72.22 and a 52 week high of $176.94. The company’s 50 day moving average price is $142.54 and its 200 day moving average price is $128.12. The stock has a market capitalization of $2.54 billion, a PE ratio of -31.99 and a beta of -0.21.

Palvella Therapeutics (NASDAQ:PVLA) last released its earnings results on Thursday, November 5th. The company reported ($1.70) EPS for the quarter, beating analysts’ consensus estimates of ($1.78) by $0.08. On average, sell-side analysts predict that Palvella Therapeutics will post -6.39 earnings per share for the current year.

Insider Transactions at Palvella Therapeutics

In other Palvella Therapeutics news, Director Christopher Kiritsy sold 313 shares of the business’s stock in a transaction that occurred on 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 owned 250 shares in the company, valued at approximately $39,250. The trade was a 55.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kathleen Goin sold 4,313 shares of the stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total value of $537,313.54. Following the sale, the chief operating officer directly owned 2,165 shares of the company’s stock, valued at approximately $269,715.70. This trade represents a 66.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 61,056 shares of company stock worth $8,756,946. Company insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Palvella Therapeutics

A number of institutional investors have recently bought and sold shares of PVLA. BlackRock Inc. purchased a new position in shares of Palvella Therapeutics in the 2nd quarter valued at approximately $140,343,000. First Light Asset Management LLC increased its holdings in shares of Palvella Therapeutics by 38.3% during the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock valued at $122,251,000 after acquiring an additional 271,617 shares in the last quarter. Jennison Associates LLC raised its holdings in Palvella Therapeutics by 65.3% in the first quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock worth $79,852,000 after buying an additional 253,128 shares during the last quarter. Primecap Management Co. CA purchased a new stake in Palvella Therapeutics during the 2nd quarter valued at $39,150,000. Finally, Siren L.L.C. raised its position in Palvella Therapeutics by 243.3% in the 1st quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock worth $32,096,000 after buying an additional 182,485 shares during the last quarter. 40.11% of the stock is owned by institutional investors.

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.