Palvella Therapeutics (NASDAQ:PVLA) Shares Gap Up Following Analyst Upgrade

Shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) gapped up before the market opened on Wednesday after Raymond James Financial upgraded the stock from an outperform rating to a strong-buy rating. The stock had previously closed at $82.94, but opened at $87.94. Raymond James Financial now has a $143.00 price target on the stock, up from their previous price target of $92.00. Palvella Therapeutics shares last traded at $88.41, with a volume of 94,932 shares traded.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group increased their price objective on Palvella Therapeutics from $90.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Wednesday, October 8th. HC Wainwright upped their target price on shares of Palvella Therapeutics from $95.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Cantor Fitzgerald lifted their price target on shares of Palvella Therapeutics from $120.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Lifesci Capital began coverage on shares of Palvella Therapeutics in a research report on Monday, August 4th. They issued an “outperform” rating and a $90.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $111.92.

Hedge Funds Weigh In On Palvella Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PVLA. Clio Asset Management LLC purchased a new position in shares of Palvella Therapeutics in the 2nd quarter valued at $2,063,000. Woodline Partners LP purchased a new position in shares of Palvella Therapeutics during the first quarter worth about $5,435,000. Goldman Sachs Group Inc. acquired a new stake in shares of Palvella Therapeutics during the first quarter worth about $533,000. Frazier Life Sciences Management L.P. lifted its holdings in shares of Palvella Therapeutics by 5.5% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 690,012 shares of the company’s stock valued at $19,313,000 after purchasing an additional 36,120 shares during the last quarter. Finally, Royce & Associates LP purchased a new stake in shares of Palvella Therapeutics in the 1st quarter valued at about $2,002,000. 40.11% of the stock is owned by institutional investors and hedge funds.

Palvella Therapeutics Stock Performance

The business has a 50-day moving average of $69.86 and a 200-day moving average of $45.77. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -23.33 and a beta of -0.05.

Palvella Therapeutics (NASDAQ:PVLA) last announced its earnings results on Monday, November 10th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.18). On average, research analysts predict that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current fiscal year.

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.