Palvella Therapeutics (NASDAQ:PVLA) Trading 8% Higher – Still a Buy?

Palvella Therapeutics, Inc. (NASDAQ:PVLA) shares traded up 8% during mid-day trading on Friday . The company traded as high as $102.04 and last traded at $101.30. 182,089 shares changed hands during mid-day trading, an increase of 42% from the average session volume of 127,902 shares. The stock had previously closed at $93.80.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James Financial raised Palvella Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $92.00 to $143.00 in a research note on Wednesday, November 19th. BTIG Research started coverage on shares of Palvella Therapeutics in a research report on Friday. They issued a “buy” rating and a $167.00 target price on the stock. Canaccord Genuity Group raised 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. Chardan Capital reissued a “buy” rating and issued a $110.00 target price on shares of Palvella Therapeutics in a research note on Thursday, November 13th. Finally, Craig Hallum initiated coverage on Palvella Therapeutics in a research report on Thursday. They set a “buy” rating and a $175.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palvella Therapeutics presently has an average rating of “Buy” and an average target price of $125.00.

Palvella Therapeutics Price Performance

The firm has a market cap of $1.19 billion, a P/E ratio of -38.21 and a beta of -0.20. The firm’s 50 day moving average is $79.06 and its 200 day moving average is $51.57.

Palvella Therapeutics (NASDAQ:PVLA) last issued its earnings results on Monday, November 10th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.18). As a group, analysts expect that Palvella Therapeutics, Inc. will post -3.69 EPS for the current year.

Insider Activity

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $86.23, for a total value of $370,961.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PVLA. Archer Investment Corp purchased a new stake in shares of Palvella Therapeutics in the third quarter worth approximately $28,000. Russell Investments Group Ltd. purchased a new position in Palvella Therapeutics during the 3rd quarter worth $36,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Palvella Therapeutics during the second quarter valued at about $37,000. JPMorgan Chase & Co. increased its position in shares of Palvella Therapeutics by 108,066.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company’s stock valued at $73,000 after acquiring an additional 3,242 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Palvella Therapeutics in the second quarter worth about $85,000. 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.