Palvella Therapeutics (NASDAQ:PVLA) Posts Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Palvella Therapeutics (NASDAQ:PVLA) issued its quarterly earnings results on Monday. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.18), FiscalAI reports.

Palvella Therapeutics Price Performance

NASDAQ PVLA traded up $2.46 during mid-day trading on Monday, reaching $80.29. The stock had a trading volume of 174,052 shares, compared to its average volume of 116,282. The company has a fifty day moving average price of $66.13 and a 200 day moving average price of $42.98. Palvella Therapeutics has a 1 year low of $11.17 and a 1 year high of $83.00. The stock has a market cap of $888.01 million, a PE ratio of -21.18 and a beta of -0.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PVLA shares. Lifesci Capital began coverage on Palvella Therapeutics in a research note on Monday, August 4th. They set an “outperform” rating and a $90.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Wednesday, October 8th. Chardan Capital lifted their target price on Palvella Therapeutics from $73.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen upped their price objective on shares of Palvella Therapeutics from $65.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Raymond James Financial set a $54.00 target price on shares of Palvella Therapeutics and gave the company an “outperform” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.67.

Hedge Funds Weigh In On Palvella Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Palvella Therapeutics by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 4,338 shares of the company’s stock worth $272,000 after acquiring an additional 1,093 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter worth approximately $85,000. BNP Paribas Financial Markets bought a new position in shares of Palvella Therapeutics during the second quarter valued at approximately $104,000. New York State Common Retirement Fund purchased a new position in Palvella Therapeutics during the second quarter valued at approximately $110,000. Finally, Rhumbline Advisers bought a new position in Palvella Therapeutics in the second quarter worth approximately $224,000. 40.11% of the stock is currently owned by hedge funds and other institutional investors.

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.