Cantor Fitzgerald Initiates Coverage on Pelthos Therapeutics (NYSEAMERICAN:PTHS)

Equities research analysts at Cantor Fitzgerald started coverage on shares of Pelthos Therapeutics (NYSEAMERICAN:PTHS) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $50.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 145.10% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Roth Mkm cut their target price on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Piper Sandler initiated coverage on Pelthos Therapeutics in a research note on Friday, February 27th. They set an “overweight” rating and a $48.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Pelthos Therapeutics in a report on Thursday, March 19th. Oppenheimer upped their target price on shares of Pelthos Therapeutics from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, March 20th. Finally, Zacks Research upgraded shares of Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pelthos Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Pelthos Therapeutics Stock Performance

Shares of PTHS opened at $20.40 on Wednesday. The company has a market cap of $68.54 million, a price-to-earnings ratio of -0.98 and a beta of 3.93. Pelthos Therapeutics has a 52 week low of $9.00 and a 52 week high of $54.29. The business’s 50 day moving average is $22.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.05 and a quick ratio of 1.15.

Institutional Trading of Pelthos Therapeutics

A number of hedge funds have recently bought and sold shares of PTHS. Ikarian Capital LLC grew its stake in Pelthos Therapeutics by 309.5% in the 4th quarter. Ikarian Capital LLC now owns 255,758 shares of the company’s stock valued at $7,928,000 after purchasing an additional 193,307 shares during the period. Boothbay Fund Management LLC increased its position in shares of Pelthos Therapeutics by 279.8% during the 4th 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 bought a new stake in shares of Pelthos Therapeutics during the 4th quarter worth $2,418,000. Cantor Fitzgerald L. P. purchased a new position in shares of Pelthos Therapeutics in the 4th quarter worth about $1,085,000. Finally, Diadema Partners LP boosted its holdings in shares of Pelthos Therapeutics by 138.1% in the 4th 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 last quarter. 77.96% of the stock is currently owned by institutional investors.

Pelthos Therapeutics Company Profile

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”).