Chardan Capital Reaffirms “Buy” Rating for Palvella Therapeutics (NASDAQ:PVLA)

Palvella Therapeutics (NASDAQ:PVLA)‘s stock had its “buy” rating reiterated by stock analysts at Chardan Capital in a report issued on Wednesday, Benzinga reports. They currently have a $240.00 target price on the stock. Chardan Capital‘s price objective would suggest a potential upside of 71.23% from the stock’s current price.

A number of other research firms have also commented on PVLA. Raymond James Financial set a $226.00 price objective on shares of Palvella Therapeutics in a research note on Friday, October 16th. William Blair assumed coverage on shares of Palvella Therapeutics in a research note on Friday, October 16th. They issued an “outperform” rating on the stock. Truist Financial set a $207.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. Finally, Canaccord Genuity Group set a $232.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Palvella Therapeutics has an average rating of “Moderate Buy” and an average target price of $209.79.

Palvella Therapeutics Stock Up 5.5%

Shares of NASDAQ:PVLA traded up $7.25 during midday trading on Wednesday, hitting $140.16. The stock had a trading volume of 40,973 shares, compared to its average volume of 257,489. The company’s 50-day moving average price is $141.42 and its 200-day moving average price is $125.93. The company has a market capitalization of $2.02 billion, a P/E ratio of -29.09 and a beta of -0.27. Palvella Therapeutics has a fifty-two week low of $71.55 and a fifty-two week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). Research analysts expect that Palvella Therapeutics will post -6.41 EPS for the current fiscal year.

Insider Transactions at Palvella Therapeutics

In other news, Director George M. Jenkins sold 7,174 shares of the company’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $130.36, for a total value of $935,202.64. Following the sale, the director directly owned 139,790 shares of the company’s stock, valued at $18,223,024.40. This represents a 4.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher P. Kiritsy sold 313 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $157.00, for a total transaction of $49,141.00. Following the completion of the transaction, the director owned 250 shares in the company, valued at approximately $39,250. The trade was a 55.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,056 shares of company stock valued at $8,756,946 in the last three months. 17.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palvella Therapeutics

A number of hedge funds have recently bought and sold shares of the company. KBC Group NV bought a new position in Palvella Therapeutics in the 1st quarter worth about $28,000. Northwestern Mutual Wealth Management Co. bought a new position in Palvella Therapeutics in the 2nd quarter worth about $35,000. Sterling Capital Management LLC boosted its stake in Palvella Therapeutics by 907.7% in the 3rd quarter. Sterling Capital Management LLC now owns 393 shares of the company’s stock worth $54,000 after purchasing an additional 354 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Palvella Therapeutics by 31.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,783 shares of the company’s stock worth $248,000 after purchasing an additional 426 shares in the last quarter. Finally, Archer Investment Corp bought a new position in Palvella Therapeutics in the 2nd quarter worth about $69,000. Institutional investors own 40.11% of the company’s stock.

Palvella Therapeutics Company Profile

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.