Piper Sandler Initiates Coverage on Pelthos Therapeutics (NYSEAMERICAN:PTHS)

Research analysts at Piper Sandler initiated coverage on shares of Pelthos Therapeutics (NYSEAMERICAN:PTHS) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $48.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 82.09% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Oppenheimer lifted 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. Zacks Research cut shares of Pelthos Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, Roth Mkm reduced their price objective on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pelthos Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

Pelthos Therapeutics Stock Performance

PTHS opened at $26.36 on Friday. The stock has a market cap of $85.41 million, a PE ratio of -1.54 and a beta of 4.00. Pelthos Therapeutics has a 52-week low of $9.00 and a 52-week high of $54.29.

Institutional Investors Weigh In On Pelthos Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PTHS. Ikarian Capital LLC grew its holdings in shares of Pelthos Therapeutics by 309.5% in the 4th quarter. Ikarian Capital LLC now owns 255,758 shares of the company’s stock worth $7,928,000 after acquiring an additional 193,307 shares during the period. Millennium Management LLC purchased a new stake in Pelthos Therapeutics in the 4th quarter worth approximately $343,000. Boothbay Fund Management LLC increased its stake in Pelthos Therapeutics by 279.8% in the fourth quarter. Boothbay Fund Management LLC now owns 80,680 shares of the company’s stock valued at $2,501,000 after purchasing an additional 59,435 shares during the last quarter. J. Goldman & Co LP purchased a new position in shares of Pelthos Therapeutics during the 4th quarter worth about $2,418,000. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of Pelthos Therapeutics in the 4th quarter valued at $1,085,000. 77.96% of the stock is owned by hedge funds and other 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”).