Palvella Therapeutics (NASDAQ:PVLA – Get Free Report) had its target price lifted by research analysts at Canaccord Genuity Group from $232.00 to $243.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price indicates a potential upside of 39.36% from the stock’s current price.
PVLA has been the topic of several other reports. HC Wainwright initiated coverage on shares of Palvella Therapeutics in a research note on Friday. They issued a “strong-buy” rating on the stock. Raymond James Financial set a $226.00 price objective on shares of Palvella Therapeutics in a research note on Friday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a report on Friday, September 25th. Oppenheimer increased their target price on shares of Palvella Therapeutics from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Truist Financial set a $207.00 price target on shares of Palvella Therapeutics in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Palvella Therapeutics has a consensus rating of “Buy” and a consensus price target of $213.85.
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Palvella Therapeutics Stock Performance
Shares of NASDAQ PVLA traded down $1.55 during trading hours on Monday, reaching $174.37. 155,870 shares of the stock were exchanged, compared to its average volume of 261,544. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -31.66 and a beta of -0.21. The stock’s fifty day simple moving average is $142.54 and its 200 day simple moving average is $128.12. Palvella Therapeutics has a 52 week low of $72.22 and a 52 week high of $179.95.
Palvella Therapeutics (NASDAQ:PVLA – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported ($1.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.78) by $0.08. Research analysts predict that Palvella Therapeutics will post -6.36 EPS for the current fiscal year.
Insider Buying and Selling
In other Palvella Therapeutics news, COO Kathleen Goin sold 4,313 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total transaction of $537,313.54. Following the sale, the chief operating officer directly owned 2,165 shares in the company, valued at $269,715.70. This represents a 66.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher Kiritsy sold 313 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $157.00, for a total transaction of $49,141.00. Following the completion of the transaction, the director directly owned 250 shares in the company, valued at approximately $39,250. This represents a 55.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 61,056 shares of company stock valued at $8,756,946 over the last quarter. 17.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in PVLA. Royce & Associates LP boosted its stake in Palvella Therapeutics by 24.7% in the third quarter. Royce & Associates LP now owns 50,509 shares of the company’s stock valued at $6,967,000 after buying an additional 10,000 shares in the last quarter. ACT Capital Partners L.P. bought a new position in Palvella Therapeutics in the third quarter valued at about $3,103,000. William Blair Investment Management LLC bought a new position in Palvella Therapeutics in the third quarter valued at about $26,906,000. Russell Investments Group Ltd. raised its stake in Palvella Therapeutics by 114.3% during the third quarter. Russell Investments Group Ltd. now owns 47,892 shares of the company’s stock worth $6,606,000 after acquiring an additional 25,547 shares in the last quarter. Finally, Nan Fung Trinity HK Ltd. acquired a new position in Palvella Therapeutics during the third quarter worth about $7,259,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.
Palvella Therapeutics Company Profile
Palvella Therapeutics is a clinical-stage biopharmaceutical company developing treatments for patients with rare and serious diseases, with a focus on conditions affecting the skin and related tissues. The company is based in Wayne, Pennsylvania.
Its pipeline includes QTORIN-based topical drug candidates, which use the company’s platform to deliver medicines locally to affected tissue. Programs are being developed for conditions including microcystic lymphatic malformations and cutaneous venous malformations; these candidates are investigational and have not been established as approved treatments.
Palvella is led by founder and Chief Executive Officer Wes Kaupinen.
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