Canaccord Genuity Group Has Lowered Expectations for Palvella Therapeutics (NASDAQ:PVLA) Stock Price

Palvella Therapeutics (NASDAQ:PVLA) had its price target lowered by equities research analysts at Canaccord Genuity Group from $53.00 to $52.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 135.83% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Palvella Therapeutics in a research note on Wednesday, April 30th. Stifel Nicolaus initiated coverage on shares of Palvella Therapeutics in a research report on Wednesday, March 26th. They set a “buy” rating and a $45.00 target price on the stock. Jones Trading initiated coverage on shares of Palvella Therapeutics in a research report on Tuesday, March 25th. They set a “buy” rating and a $45.00 target price on the stock. Scotiabank initiated coverage on shares of Palvella Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 target price on the stock. Finally, Chardan Capital initiated coverage on shares of Palvella Therapeutics in a research report on Wednesday, April 9th. They set a “buy” rating and a $50.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $46.29.

Palvella Therapeutics Stock Up 2.0%

PVLA stock opened at $22.05 on Friday. The stock has a market cap of $243.50 million, a P/E ratio of -1.82 and a beta of 0.10. Palvella Therapeutics has a 12 month low of $6.20 and a 12 month high of $29.27. The business has a 50-day moving average of $24.61.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($3.40) by $2.66. As a group, analysts predict that Palvella Therapeutics will post -3.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Palvella Therapeutics

In other news, Director George M. Jenkins acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average price of $20.13 per share, with a total value of $50,325.00. Following the transaction, the director now directly owns 183,171 shares in the company, valued at approximately $3,687,232.23. This represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Woodline Partners LP purchased a new position in shares of Palvella Therapeutics in the 1st quarter worth approximately $5,435,000. Goldman Sachs Group Inc. purchased a new position in shares of Palvella Therapeutics in the 1st quarter worth approximately $533,000. Millennium Management LLC purchased a new position in shares of Palvella Therapeutics in the 1st quarter worth approximately $7,553,000. AWM Investment Company Inc. purchased a new position in shares of Palvella Therapeutics in the 1st quarter worth approximately $1,943,000. Finally, Frazier Life Sciences Management L.P. grew its position in shares of Palvella Therapeutics by 5.5% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 690,012 shares of the company’s stock worth $19,313,000 after buying an additional 36,120 shares during the last quarter. Hedge funds and other institutional investors own 40.11% of the company’s stock.

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.