Palvella Therapeutics (NASDAQ:PVLA) Given New $80.00 Price Target at Stifel Nicolaus

Palvella Therapeutics (NASDAQ:PVLA) had its target price increased by Stifel Nicolaus from $60.00 to $80.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

PVLA has been the topic of several other reports. Canaccord Genuity Group lifted their price target on Palvella Therapeutics from $52.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, August 19th. Truist Financial assumed coverage on Palvella Therapeutics in a research report on Monday, July 21st. They set a “buy” rating and a $56.00 price target on the stock. HC Wainwright lifted their price target on 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 price target on Palvella Therapeutics and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Oppenheimer assumed coverage on Palvella Therapeutics in a research report on Tuesday, September 9th. They set an “outperform” rating and a $85.00 price target on the stock. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $64.09.

Palvella Therapeutics Price Performance

Shares of Palvella Therapeutics stock opened at $58.87 on Wednesday. The business’s fifty day moving average price is $47.65 and its two-hundred day moving average price is $32.40. The company has a market capitalization of $651.10 million, a P/E ratio of -4.87 and a beta of -0.03. Palvella Therapeutics has a 1-year low of $11.17 and a 1-year high of $63.12.

Palvella Therapeutics (NASDAQ:PVLA) last announced its earnings results on Thursday, August 14th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). On average, research analysts expect that Palvella Therapeutics will post -3.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palvella Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. grew its holdings in shares of Palvella Therapeutics by 4.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 722,400 shares of the company’s stock worth $16,283,000 after acquiring an additional 32,388 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Palvella Therapeutics in the 1st quarter worth $7,553,000. Woodline Partners LP acquired a new position in shares of Palvella Therapeutics in the 1st quarter worth $5,435,000. Geode Capital Management LLC grew its holdings in shares of Palvella Therapeutics by 84.7% in the 2nd quarter. Geode Capital Management LLC now owns 173,986 shares of the company’s stock worth $3,923,000 after acquiring an additional 79,787 shares during the last quarter. Finally, Clio Asset Management LLC acquired a new stake in shares of Palvella Therapeutics in the second quarter worth $2,063,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

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.