Palvella Therapeutics (NASDAQ:PVLA) Shares Gap Up Following Analyst Upgrade

Palvella Therapeutics, Inc. (NASDAQ:PVLA)’s share price gapped up before the market opened on Wednesday after Raymond James Financial upgraded the stock from an outperform rating to a strong-buy rating. The stock had previously closed at $82.94, but opened at $87.94. Raymond James Financial now has a $143.00 price target on the stock, up from their previous price target of $92.00. Palvella Therapeutics shares last traded at $88.41, with a volume of 94,932 shares traded.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus increased their price target on Palvella Therapeutics from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Chardan Capital restated a “buy” rating and issued a $110.00 target price on shares of Palvella Therapeutics in a research note on Thursday, November 13th. Oppenheimer reaffirmed an “outperform” rating on shares of Palvella Therapeutics in a report on Tuesday, November 11th. Lifesci Capital assumed coverage on shares of Palvella Therapeutics in a research note on Monday, August 4th. They set an “outperform” rating and a $90.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on shares of Palvella Therapeutics from $90.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $111.92.

Hedge Funds Weigh In On Palvella Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Archer Investment Corp purchased a new position in shares of Palvella Therapeutics in the 3rd quarter valued at about $28,000. Russell Investments Group Ltd. acquired a new position in Palvella Therapeutics during the third quarter worth about $36,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Palvella Therapeutics during the second quarter worth about $37,000. JPMorgan Chase & Co. increased its holdings in Palvella Therapeutics by 108,066.7% in the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company’s stock valued at $73,000 after buying an additional 3,242 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Palvella Therapeutics during the 2nd quarter valued at approximately $85,000. 40.11% of the stock is owned by institutional investors and hedge funds.

Palvella Therapeutics Trading Up 6.6%

The firm has a market cap of $1.05 billion, a PE ratio of -23.33 and a beta of -0.05. The company has a 50 day moving average price of $69.86 and a 200 day moving average price of $45.77.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.18). As a group, equities research analysts anticipate that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current fiscal year.

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.