Analysts Set Palvella Therapeutics (NASDAQ:PVLA) Price Target at $44.43

Shares of Palvella Therapeutics (NASDAQ:PVLA) have earned an average rating of “Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $46.29.

A number of research analysts have commented on PVLA shares. Stifel Nicolaus started coverage on shares of Palvella Therapeutics in a research note on Wednesday, March 26th. They set a “buy” rating and a $45.00 price objective on the stock. TD Cowen initiated coverage on shares of Palvella Therapeutics in a research note on Wednesday, February 5th. They set a “buy” rating and a $44.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of Palvella Therapeutics in a research report on Wednesday, April 30th. Scotiabank initiated coverage on shares of Palvella Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price target on the stock. Finally, Canaccord Genuity Group reduced their price target on shares of Palvella Therapeutics from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday.

Insiders Place Their Bets

In other Palvella Therapeutics news, Director George M. Jenkins acquired 2,500 shares of the stock in a transaction dated Wednesday, April 9th. The shares were bought at an average price of $20.13 per share, with a total value of $50,325.00. Following the purchase, the director now directly owns 183,171 shares of the company’s stock, valued at approximately $3,687,232.23. This trade represents a 1.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 20.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Palvella Therapeutics

Hedge funds have recently made changes to their positions in the business. Spire Wealth Management purchased a new position in shares of Palvella Therapeutics in the first quarter worth approximately $70,000. Citadel Advisors LLC purchased a new position in Palvella Therapeutics during the fourth quarter valued at approximately $125,000. Toronto Dominion Bank purchased a new position in Palvella Therapeutics during the fourth quarter valued at approximately $159,000. Geode Capital Management LLC purchased a new position in Palvella Therapeutics during the fourth quarter valued at approximately $171,000. Finally, Goldman Sachs Group Inc. purchased a new position in Palvella Therapeutics during the first quarter valued at approximately $533,000. Institutional investors and hedge funds own 40.11% of the company’s stock.

Palvella Therapeutics Stock Performance

PVLA opened at $22.05 on Wednesday. The company’s fifty day moving average price is $24.61. The firm has a market cap of $243.50 million, a price-to-earnings ratio of -1.82 and a beta of 0.10. Palvella Therapeutics has a twelve month low of $6.20 and a twelve month high of $29.27.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($3.40) by $2.66. Analysts forecast that Palvella Therapeutics will post -3.69 earnings per share for the current year.

About Palvella Therapeutics

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.