Palvella Therapeutics (NASDAQ:PVLA) Sets New 52-Week High – Time to Buy?

Palvella Therapeutics, Inc. (NASDAQ:PVLA)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $63.12 and last traded at $59.01, with a volume of 17540 shares trading hands. The stock had previously closed at $59.04.

Analyst Ratings Changes

PVLA has been the subject of several analyst reports. Lifesci Capital initiated coverage on shares of Palvella Therapeutics in a research note on Monday, August 4th. They issued an “outperform” rating and a $90.00 price objective for the company. Truist Financial initiated coverage on shares of Palvella Therapeutics in a research report on Monday, July 21st. They set a “buy” rating and a $56.00 target price for the company. HC Wainwright increased their target price on shares of Palvella Therapeutics from $38.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Raymond James Financial set a $54.00 target price on shares of Palvella Therapeutics and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Oppenheimer initiated coverage on shares of Palvella Therapeutics in a research report on Tuesday, September 9th. They set an “outperform” rating and a $85.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.91.

Palvella Therapeutics Stock Performance

The company has a market cap of $644.13 million, a PE ratio of -4.81 and a beta of -0.03. The business’s 50-day moving average is $45.84 and its 200 day moving average is $31.76.

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

Institutional Investors Weigh In On Palvella Therapeutics

A number of large investors have recently modified their holdings of PVLA. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Palvella Therapeutics during the 2nd quarter valued at about $37,000. Spire Wealth Management purchased a new position in Palvella Therapeutics in the first quarter worth about $70,000. JPMorgan Chase & Co. raised its holdings in shares of Palvella Therapeutics by 108,066.7% during the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company’s stock valued at $73,000 after purchasing an additional 3,242 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Palvella Therapeutics during the second quarter valued at approximately $85,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Palvella Therapeutics during the second quarter valued at approximately $104,000. 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.