TD Cowen Issues Positive Forecast for Palvella Therapeutics (NASDAQ:PVLA) Stock Price

Palvella Therapeutics (NASDAQ:PVLA) had its price objective upped by TD Cowen from $65.00 to $97.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on PVLA. Lifesci Capital started coverage on Palvella Therapeutics in a research report on Monday, August 4th. They set an “outperform” rating and a $90.00 target price on the stock. Chardan Capital lifted their price objective on Palvella Therapeutics from $60.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Canaccord Genuity Group increased their target price on shares of Palvella Therapeutics from $66.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Cantor Fitzgerald raised their target price on shares of Palvella Therapeutics from $120.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Palvella Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $97.58.

Palvella Therapeutics Price Performance

Shares of NASDAQ:PVLA traded down $0.80 during trading on Thursday, hitting $77.83. The company’s stock had a trading volume of 104,830 shares, compared to its average volume of 116,017. The firm has a market cap of $860.80 million, a price-to-earnings ratio of -20.54 and a beta of -0.05. The company has a 50-day moving average of $66.13 and a 200-day moving average of $42.75. Palvella Therapeutics has a 12 month low of $11.17 and a 12 month high of $83.00.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). As a group, research analysts anticipate that Palvella Therapeutics will post -3.69 earnings per share for the current year.

Hedge Funds Weigh In On Palvella Therapeutics

Hedge funds have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. grew its stake in Palvella Therapeutics by 4.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 722,400 shares of the company’s stock valued at $16,283,000 after acquiring an additional 32,388 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 330,847 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Palvella Therapeutics during the third quarter valued at about $21,255,000. Millennium Management LLC purchased a new position in shares of Palvella Therapeutics during the first quarter valued at about $7,553,000. Finally, Woodline Partners LP bought a new stake in shares of Palvella Therapeutics in the first quarter worth about $5,435,000. Hedge funds and other institutional investors own 40.11% of the company’s stock.

About Palvella Therapeutics

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.