Palvella Therapeutics (NASDAQ:PVLA) Given New $66.00 Price Target at Canaccord Genuity Group

Palvella Therapeutics (NASDAQ:PVLA) had its price objective increased by Canaccord Genuity Group from $52.00 to $66.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

PVLA has been the subject of several other reports. HC Wainwright raised their price target on Palvella Therapeutics from $38.00 to $75.00 and gave the company a “buy” rating in a report on Friday, August 15th. Truist Financial started coverage on shares of Palvella Therapeutics in a research report on Monday, July 21st. They set a “buy” rating and a $56.00 price objective on the stock. Lifesci Capital assumed coverage on shares of Palvella Therapeutics in a report on Monday, August 4th. They issued an “outperform” rating and a $90.00 target price for the company. Raymond James Financial set a $54.00 target price on shares of Palvella Therapeutics and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Chardan Capital raised their price target on shares of Palvella Therapeutics from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $58.50.

Palvella Therapeutics Stock Down 2.1%

Shares of PVLA opened at $48.50 on Tuesday. The stock has a market cap of $536.41 million, a P/E ratio of -4.01 and a beta of -0.01. The business’s 50 day moving average price is $31.41 and its 200-day moving average price is $25.91. Palvella Therapeutics has a 52 week low of $11.17 and a 52 week high of $50.22.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). On average, equities analysts anticipate that Palvella Therapeutics will post -3.69 EPS for the current year.

Hedge Funds Weigh In On Palvella Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of PVLA. Citadel Advisors LLC bought a new position in Palvella Therapeutics in the fourth quarter valued at about $125,000. Spire Wealth Management purchased a new stake in shares of Palvella Therapeutics during the 1st quarter valued at about $70,000. Renaissance Technologies LLC bought a new position in shares of Palvella Therapeutics in the 4th quarter worth approximately $256,000. Geode Capital Management LLC purchased a new position in shares of Palvella Therapeutics in the fourth quarter worth approximately $171,000. Finally, Nantahala Capital Management LLC purchased a new position in shares of Palvella Therapeutics in the fourth quarter worth approximately $3,001,000. 40.11% of the stock is owned by institutional investors.

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.