Palvella Therapeutics (NASDAQ:PVLA) Sets New 52-Week High – Here’s Why

Shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $87.01 and last traded at $81.64, with a volume of 234010 shares trading hands. The stock had previously closed at $83.72.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Oppenheimer restated an “outperform” rating on shares of Palvella Therapeutics in a research note on Tuesday, November 11th. Canaccord Genuity Group boosted their price target on Palvella Therapeutics from $90.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Wednesday, October 8th. TD Cowen lifted their target price on shares of Palvella Therapeutics from $65.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, HC Wainwright boosted their target price on shares of Palvella Therapeutics from $95.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Palvella Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $104.50.

Palvella Therapeutics Stock Down 2.5%

The company has a market cap of $966.29 million, a PE ratio of -21.54 and a beta of -0.05. The business has a 50-day simple moving average of $69.33 and a 200-day simple moving average of $45.36.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings data on Tuesday, November 11th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.18). On average, research analysts forecast that Palvella Therapeutics, Inc. will post -3.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Palvella Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Archer Investment Corp acquired a new stake in shares of Palvella Therapeutics in the third quarter valued at about $28,000. Bank of America Corp DE lifted its stake in Palvella Therapeutics by 12.3% in the 3rd quarter. Bank of America Corp DE now owns 4,689 shares of the company’s stock valued at $294,000 after buying an additional 515 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Palvella Therapeutics in the 3rd quarter valued at about $36,000. JPMorgan Chase & Co. boosted its holdings in Palvella Therapeutics by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,338 shares of the company’s stock worth $272,000 after buying an additional 1,093 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in Palvella Therapeutics during the 2nd quarter worth approximately $37,000. 40.11% of the stock is owned by hedge funds and other institutional investors.

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.