Pelthos Therapeutics (NYSEAMERICAN:PTHS) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Pelthos Therapeutics (NYSEAMERICAN:PTHS) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Pelthos Therapeutics in a research report on Thursday, March 19th. Roth Mkm lowered their price objective on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Oppenheimer lifted their price objective on Pelthos Therapeutics from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, March 20th. Finally, Piper Sandler assumed coverage on Pelthos Therapeutics in a research note on Friday, February 27th. They set an “overweight” rating and a $48.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pelthos Therapeutics has an average rating of “Moderate Buy” and an average target price of $56.25.

Pelthos Therapeutics Price Performance

Shares of PTHS stock opened at $22.09 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.05 and a quick ratio of 1.15. The business has a fifty day moving average price of $23.21. The firm has a market cap of $74.22 million, a price-to-earnings ratio of -1.06 and a beta of 3.87. Pelthos Therapeutics has a 12 month low of $9.00 and a 12 month high of $54.29.

Hedge Funds Weigh In On Pelthos Therapeutics

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Pelthos Therapeutics by 31.9% in the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock worth $422,000 after purchasing an additional 3,295 shares in the last quarter. Persistent Asset Partners Ltd raised its stake in Pelthos Therapeutics by 150.0% during the fourth quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock valued at $186,000 after buying an additional 3,604 shares in the last quarter. Millennium Management LLC bought a new position in Pelthos Therapeutics during the 4th quarter worth approximately $343,000. Knott David M Jr lifted its holdings in Pelthos Therapeutics by 215.5% during the 4th quarter. Knott David M Jr now owns 19,281 shares of the company’s stock worth $598,000 after buying an additional 13,169 shares during the last quarter. Finally, Diadema Partners LP grew its position in shares of Pelthos Therapeutics by 138.1% in the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after acquiring an additional 14,502 shares in the last quarter. Institutional investors own 77.96% of the company’s stock.

About Pelthos Therapeutics

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”).