Pelthos Therapeutics’ (PTHS) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Pelthos Therapeutics (NYSEAMERICAN:PTHS) in a research report released on Thursday,Benzinga reports. The firm currently has a $60.00 price target on the stock.

Several other research analysts have also recently issued reports on PTHS. Piper Sandler assumed coverage on Pelthos Therapeutics in a research report on Friday, February 27th. They issued an “overweight” rating and a $48.00 target price on the stock. Oppenheimer boosted their price objective on Pelthos Therapeutics from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Roth Mkm decreased their price target on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Zacks Research cut shares of Pelthos Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.75.

Pelthos Therapeutics Stock Performance

Shares of PTHS opened at $22.97 on Thursday. The company’s fifty day moving average is $23.34. The stock has a market cap of $74.42 million, a price-to-earnings ratio of -1.34 and a beta of 3.87. Pelthos Therapeutics has a 1-year low of $9.00 and a 1-year high of $54.29.

Institutional Investors Weigh In On Pelthos Therapeutics

Institutional investors have recently modified their holdings of the stock. Persistent Asset Partners Ltd boosted its holdings in shares of Pelthos Therapeutics by 150.0% in the 4th quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock worth $186,000 after purchasing an additional 3,604 shares during the period. Millennium Management LLC purchased a new stake in Pelthos Therapeutics during the 4th quarter valued at $343,000. Geode Capital Management LLC lifted its position in Pelthos Therapeutics by 31.9% in the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock worth $422,000 after buying an additional 3,295 shares during the last quarter. Knott David M Jr lifted its position in Pelthos Therapeutics by 215.5% in the fourth quarter. Knott David M Jr now owns 19,281 shares of the company’s stock worth $598,000 after buying an additional 13,169 shares during the last quarter. Finally, Diadema Partners LP boosted its stake in Pelthos Therapeutics by 138.1% during the fourth quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after buying an additional 14,502 shares during the period. 77.96% of the stock is owned by institutional investors.

About Pelthos Therapeutics

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).