Brokerages Set Palvella Therapeutics, Inc. (NASDAQ:PVLA) PT at $60.91

Palvella Therapeutics, Inc. (NASDAQ:PVLA) has been given an average rating of “Buy” by the twelve research firms that are covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $60.9091.

Several equities research analysts recently issued reports on PVLA shares. Oppenheimer assumed coverage on shares of Palvella Therapeutics in a research note on Tuesday, September 9th. They set an “outperform” rating and a $85.00 target price on the stock. Raymond James Financial set a $54.00 price objective on Palvella Therapeutics and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Lifesci Capital initiated coverage on Palvella Therapeutics in a report on Monday, August 4th. They issued an “outperform” rating and a $90.00 target price for the company. Canaccord Genuity Group boosted their target price on Palvella Therapeutics from $52.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, August 19th. Finally, Truist Financial began coverage on Palvella Therapeutics in a research report on Monday, July 21st. They issued a “buy” rating and a $56.00 price target on the stock.

Palvella Therapeutics Trading Up 0.8%

PVLA opened at $58.71 on Tuesday. The firm has a market capitalization of $649.33 million, a PE ratio of -4.85 and a beta of -0.04. Palvella Therapeutics has a twelve month low of $11.17 and a twelve month high of $63.12. The firm’s 50-day moving average price is $46.46 and its 200 day moving average price is $32.05.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). As a group, analysts predict that Palvella Therapeutics will post -3.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palvella Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. boosted its holdings in shares of Palvella Therapeutics by 4.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 722,400 shares of the company’s stock valued at $16,283,000 after buying an additional 32,388 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Palvella Therapeutics in the second quarter valued at $104,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Palvella Therapeutics during the second quarter worth about $85,000. Marshall Wace LLP increased its position in shares of Palvella Therapeutics by 61.7% during the second quarter. Marshall Wace LLP now owns 49,077 shares of the company’s stock worth $1,106,000 after purchasing an additional 18,732 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at about $110,000. Hedge funds and other institutional investors own 40.11% of the company’s stock.

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.