HC Wainwright initiated coverage on shares of Palvella Therapeutics (NASDAQ:PVLA – Free Report) in a research note issued to investors on Friday,Zacks reports. The brokerage issued a strong-buy rating on the stock.
A number of other research firms have also recently weighed in on PVLA. Truist Financial set a $207.00 price target on Palvella Therapeutics in a research note on Wednesday, August 5th. Raymond James Financial set a $226.00 price target on Palvella Therapeutics in a research note on Friday, October 16th. William Blair started coverage on Palvella Therapeutics in a report on Friday, October 16th. They set an “outperform” rating on the stock. Oppenheimer boosted their price target on Palvella Therapeutics from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $213.00.
View Our Latest Stock Report on PVLA
Palvella Therapeutics Stock Performance
Palvella Therapeutics stock traded up $19.07 during midday trading on Friday, reaching $175.92. 502,014 shares of the company’s stock were exchanged, compared to its average volume of 237,190. Palvella Therapeutics has a 52 week low of $72.22 and a 52 week high of $176.94. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -31.99 and a beta of -0.21. The stock’s 50-day simple moving average is $142.54 and its 200 day simple moving average is $128.12.
Palvella Therapeutics (NASDAQ:PVLA – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($1.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.78) by $0.08. Research analysts forecast that Palvella Therapeutics will post -6.39 earnings per share for the current year.
Insider Transactions at Palvella Therapeutics
In related news, COO Kathleen Goin sold 4,313 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $124.58, for a total value 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 legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George M. Jenkins sold 13,352 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $151.96, for a total transaction of $2,028,969.92. Following the sale, the director directly owned 161,893 shares of the company’s stock, valued at $24,601,260.28. This represents a 7.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,056 shares of company stock worth $8,756,946 over the last ninety days. 17.20% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PVLA. BlackRock Inc. acquired a new stake in shares of Palvella Therapeutics during the second quarter worth $140,343,000. First Light Asset Management LLC lifted its holdings in Palvella Therapeutics by 38.3% in the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock valued at $122,251,000 after buying an additional 271,617 shares during the period. Jennison Associates LLC lifted its holdings in Palvella Therapeutics by 65.3% in the first quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock valued at $79,852,000 after buying an additional 253,128 shares during the period. Primecap Management Co. CA bought a new stake in Palvella Therapeutics during the second quarter valued at $39,150,000. Finally, Siren L.L.C. boosted its position in Palvella Therapeutics by 243.3% during the first quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock valued at $32,096,000 after acquiring an additional 182,485 shares during the last quarter. Institutional investors and hedge funds own 40.11% of the company’s stock.
About Palvella Therapeutics
Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical-stage biopharmaceutical company focused on developing treatments for patients with serious rare diseases, including conditions that may have limited or no approved therapeutic options.
The company’s development programs are based on its QTORIN 3.0 technology platform, which is designed to deliver medicines locally through topical formulations. Palvella has applied the platform to investigational therapies for rare genetic skin disorders and other localized diseases, with the goal of improving treatment effectiveness while limiting systemic exposure.
Palvella is headquartered in Wayne, Pennsylvania, and conducts research and development activities aimed at serving rare-disease patients in the United States and other potential international markets.
Further Reading
- Five stocks we like better than Palvella Therapeutics
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Receive News & Ratings for Palvella Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palvella Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
