Pelthos Therapeutics (NYSEAMERICAN:PTHS) Earns “Buy” Rating from HC Wainwright

Pelthos Therapeutics (NYSEAMERICAN:PTHS)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $60.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 167.38% from the company’s previous close.

Other analysts also recently issued reports about the company. Zacks Research downgraded Pelthos Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Piper Sandler assumed coverage on Pelthos Therapeutics in a research report on Friday, February 27th. They set an “overweight” rating and a $48.00 target price for the company. Roth Mkm reduced their price target on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Oppenheimer upped their price objective on Pelthos Therapeutics from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.75.

Pelthos Therapeutics Stock Performance

Shares of PTHS traded down $1.64 during midday trading on Thursday, hitting $22.44. 3,792 shares of the company traded hands, compared to its average volume of 9,057. The firm has a 50 day simple moving average of $23.34. Pelthos Therapeutics has a 52 week low of $9.00 and a 52 week high of $54.29. The stock has a market cap of $72.71 million, a PE ratio of -1.31 and a beta of 3.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Persistent Asset Partners Ltd boosted its stake in Pelthos Therapeutics by 150.0% during the 4th quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock valued at $186,000 after purchasing an additional 3,604 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Pelthos Therapeutics in the fourth quarter valued at $343,000. Geode Capital Management LLC lifted its holdings in shares of Pelthos Therapeutics by 31.9% in the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock valued at $422,000 after buying an additional 3,295 shares during the period. Knott David M Jr boosted its stake in Pelthos Therapeutics by 215.5% during the fourth quarter. Knott David M Jr now owns 19,281 shares of the company’s stock valued at $598,000 after buying an additional 13,169 shares in the last quarter. Finally, Diadema Partners LP grew its holdings in Pelthos Therapeutics by 138.1% during the fourth quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after acquiring an additional 14,502 shares during the period. Institutional investors own 77.96% of the company’s stock.

About Pelthos Therapeutics

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”).