Palvella Therapeutics (NASDAQ:PVLA) Stock Price Up 5.7% Following Analyst Upgrade

Palvella Therapeutics, Inc. (NASDAQ:PVLA) shares rose 5.7% during trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $52.00 to $66.00. Canaccord Genuity Group currently has a buy rating on the stock. Palvella Therapeutics traded as high as $51.72 and last traded at $51.25. Approximately 61,805 shares changed hands during trading, a decline of 36% from the average daily volume of 96,713 shares. The stock had previously closed at $48.50.

Other equities analysts have also recently issued research reports about the company. Truist Financial initiated coverage on Palvella Therapeutics in a research report on Monday, July 21st. They set a “buy” rating and a $56.00 target price on the stock. Lifesci Capital initiated coverage on Palvella Therapeutics in a research report on Monday, August 4th. They set an “outperform” rating and a $90.00 target price on the stock. Raymond James Financial set a $54.00 target price on Palvella Therapeutics and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Chardan Capital boosted their target price on Palvella Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Finally, HC Wainwright boosted their target price on Palvella Therapeutics from $38.00 to $75.00 and gave the stock 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 assigned a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $58.50.

Institutional Investors Weigh In On Palvella Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Palvella Therapeutics in the 2nd quarter worth approximately $37,000. Spire Wealth Management acquired a new stake in shares of Palvella Therapeutics in the 1st quarter worth approximately $70,000. JPMorgan Chase & Co. grew its holdings in shares of Palvella Therapeutics by 108,066.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company’s stock worth $73,000 after acquiring an additional 3,242 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Palvella Therapeutics in the 2nd quarter worth approximately $85,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Palvella Therapeutics in the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds own 40.11% of the company’s stock.

Palvella Therapeutics Stock Performance

The firm has a market cap of $557.87 million, a price-to-earnings ratio of -4.17 and a beta of -0.01. The business has a fifty day moving average of $31.91 and a two-hundred day moving average of $26.08.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings results 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 research analysts forecast that Palvella Therapeutics, Inc. 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.