TD Cowen Forecasts Strong Price Appreciation for Palvella Therapeutics (NASDAQ:PVLA) Stock

Palvella Therapeutics (NASDAQ:PVLA) had its price objective lifted by equities research analysts at TD Cowen from $65.00 to $97.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 20.93% from the stock’s current price.

A number of other equities research analysts have also commented on PVLA. Cantor Fitzgerald upped their price objective on shares of Palvella Therapeutics from $120.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday. Lifesci Capital initiated coverage on Palvella Therapeutics in a report on Monday, August 4th. They issued an “outperform” rating and a $90.00 price target for the company. Canaccord Genuity Group raised their price target on Palvella Therapeutics from $66.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Stifel Nicolaus raised their price target on Palvella Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Chardan Capital lifted their price objective on Palvella Therapeutics from $60.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Palvella Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $94.50.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA traded up $4.46 during mid-day trading on Thursday, hitting $80.21. The company had a trading volume of 109,717 shares, compared to its average volume of 115,740. Palvella Therapeutics has a 12 month low of $11.17 and a 12 month high of $83.00. The firm has a market cap of $887.12 million, a P/E ratio of -21.16 and a beta of -0.05. The business’s 50-day simple moving average is $65.11 and its 200-day simple moving average is $42.13.

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, sell-side analysts predict that Palvella Therapeutics will post -3.69 EPS for the current year.

Institutional Investors Weigh In On Palvella Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Archer Investment Corp acquired a new position in Palvella Therapeutics during the third quarter worth $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Palvella Therapeutics in the second quarter worth about $37,000. AlphaQuest LLC acquired a new stake in shares of Palvella Therapeutics during the 3rd quarter worth approximately $164,000. JPMorgan Chase & Co. grew its position in Palvella Therapeutics by 108,066.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company’s stock worth $73,000 after purchasing an additional 3,242 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Palvella Therapeutics in the second quarter valued at approximately $85,000. 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.