Palvella Therapeutics (NASDAQ:PVLA) Given New $148.00 Price Target at Canaccord Genuity Group

Palvella Therapeutics (NASDAQ:PVLA) had its price objective hoisted by research analysts at Canaccord Genuity Group from $90.00 to $148.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 83.92% from the stock’s previous close.

PVLA has been the subject of several other research reports. Lifesci Capital began coverage on shares of Palvella Therapeutics in a research report on Monday, August 4th. They set an “outperform” rating and a $90.00 price target for the company. Cantor Fitzgerald increased their price target on shares of Palvella Therapeutics from $120.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on Palvella Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, HC Wainwright raised their price target on shares of Palvella Therapeutics from $95.00 to $190.00 and gave the company a “buy” rating in a research report 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.50.

Palvella Therapeutics Price Performance

PVLA traded down $1.07 during trading on Thursday, reaching $80.47. 104,777 shares of the company’s stock were exchanged, compared to its average volume of 116,673. Palvella Therapeutics has a 1 year low of $11.17 and a 1 year high of $85.03. The company’s fifty day simple moving average is $67.71 and its 200-day simple moving average is $44.00. The stock has a market capitalization of $890.00 million, a P/E ratio of -21.23 and a beta of -0.05.

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

Hedge Funds Weigh In On Palvella Therapeutics

Large investors have recently made changes to their positions in the stock. Franklin Resources Inc. purchased a new position in Palvella Therapeutics during the third quarter worth about $292,000. Russell Investments Group Ltd. acquired a new position in Palvella Therapeutics during the third quarter worth approximately $36,000. Intech Investment Management LLC purchased a new position in Palvella Therapeutics during the third quarter worth approximately $259,000. Vanguard Group Inc. grew its stake in shares of Palvella Therapeutics by 202.0% during the 3rd quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock valued at $31,010,000 after buying an additional 330,847 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Palvella Therapeutics by 33.7% during 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. Hedge funds and other institutional investors own 40.11% of the company’s stock.

Palvella Therapeutics Company Profile

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.