Pelthos Therapeutics (NYSEAMERICAN:PTHS) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Pelthos Therapeutics (NYSEAMERICAN:PTHS) in a report issued on Wednesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $50.00 price objective on the stock.

PTHS has been the topic of a number of other research reports. Oppenheimer upped their price target on shares of Pelthos Therapeutics from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Zacks Research upgraded Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 24th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Pelthos Therapeutics in a research report on Thursday, March 19th. Roth Mkm dropped their price target on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Piper Sandler initiated coverage on Pelthos Therapeutics in a report on Friday, February 27th. They issued an “overweight” rating and a $48.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Pelthos Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Pelthos Therapeutics Price Performance

Shares of Pelthos Therapeutics stock opened at $20.40 on Wednesday. The firm has a 50 day moving average of $22.86. The stock has a market cap of $68.54 million, a price-to-earnings ratio of -0.98 and a beta of 3.93. The company has a quick ratio of 1.15, a current ratio of 2.05 and a debt-to-equity ratio of 0.81. Pelthos Therapeutics has a 52 week low of $9.00 and a 52 week high of $54.29.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ikarian Capital LLC grew its stake in shares of Pelthos Therapeutics by 309.5% during the 4th quarter. Ikarian Capital LLC now owns 255,758 shares of the company’s stock worth $7,928,000 after purchasing an additional 193,307 shares during the period. Millennium Management LLC acquired a new stake in Pelthos Therapeutics during the fourth quarter valued at $343,000. Boothbay Fund Management LLC grew its position in Pelthos Therapeutics by 279.8% during the fourth quarter. Boothbay Fund Management LLC now owns 80,680 shares of the company’s stock valued at $2,501,000 after buying an additional 59,435 shares during the period. J. Goldman & Co LP purchased a new position in Pelthos Therapeutics in the fourth quarter valued at $2,418,000. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of Pelthos Therapeutics in the fourth quarter worth about $1,085,000. 77.96% of the stock is owned by institutional investors and hedge funds.

Pelthos Therapeutics Company Profile

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).