Palvella Therapeutics (NASDAQ:PVLA) Hits New 1-Year High Following Analyst Upgrade

Palvella Therapeutics, Inc. (NASDAQ:PVLA) shares reached a new 52-week high on Monday after Chardan Capital raised their price target on the stock from $60.00 to $73.00. Chardan Capital currently has a buy rating on the stock. Palvella Therapeutics traded as high as $63.39 and last traded at $62.25, with a volume of 278395 shares traded. The stock had previously closed at $59.59.

PVLA has been the topic of a number of other reports. HC Wainwright raised their target price on Palvella Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer assumed coverage on Palvella Therapeutics in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $85.00 price target for the company. Lifesci Capital started coverage on Palvella Therapeutics in a research report on Monday, August 4th. They set an “outperform” rating and a $90.00 price objective on the stock. Truist Financial started coverage on shares of Palvella Therapeutics in a report on Monday, July 21st. They issued a “buy” rating and a $56.00 target price for the company. Finally, Stifel Nicolaus raised their target price on shares of Palvella Therapeutics from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $67.09.

Institutional Investors Weigh In On Palvella Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PVLA. Police & Firemen s Retirement System of New Jersey purchased a new position in Palvella Therapeutics during the second quarter valued at $37,000. Spire Wealth Management purchased a new stake in Palvella Therapeutics in the 1st quarter worth $70,000. JPMorgan Chase & Co. boosted its holdings in shares of Palvella Therapeutics by 108,066.7% during the 2nd 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 about $85,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Palvella Therapeutics during the second quarter valued at about $104,000. Institutional investors own 40.11% of the company’s stock.

Palvella Therapeutics Stock Up 4.5%

The stock has a market capitalization of $688.49 million, a P/E ratio of -5.14 and a beta of -0.04. The company has a fifty day moving average price of $49.41 and a 200-day moving average price of $33.16.

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

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.