Palvella Therapeutics’ (PVLA) Buy Rating Reaffirmed at Canaccord Genuity Group

Palvella Therapeutics (NASDAQ:PVLA)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity Group in a report released on Wednesday,Benzinga reports. They presently have a $39.00 price objective on the stock. Canaccord Genuity Group’s target price points to a potential upside of 106.90% from the company’s previous close.

A number of other research firms have also recently commented on PVLA. Cantor Fitzgerald began coverage on shares of Palvella Therapeutics in a research report on Wednesday, December 18th. They issued an “overweight” rating on the stock. TD Cowen assumed coverage on shares of Palvella Therapeutics in a research note on Wednesday, February 5th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Palvella Therapeutics in a research report on Tuesday, February 11th.

Palvella Therapeutics Trading Up 0.3 %

Shares of Palvella Therapeutics stock opened at $18.85 on Wednesday. The firm has a market cap of $211.52 million, a price-to-earnings ratio of -1.56 and a beta of 0.68. Palvella Therapeutics has a 52 week low of $6.20 and a 52 week high of $22.32. The company has a fifty day simple moving average of $14.62.

Insider Activity at Palvella Therapeutics

In other Palvella Therapeutics news, Director George M. Jenkins purchased 4,000 shares of Palvella Therapeutics stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $12.93 per share, with a total value of $51,720.00. Following the completion of the transaction, the director now owns 180,671 shares of the company’s stock, valued at $2,336,076.03. This trade represents a 2.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PVLA. Suvretta Capital Management LLC purchased a new position in Palvella Therapeutics in the 4th quarter valued at approximately $8,574,000. BVF Inc. IL purchased a new stake in shares of Palvella Therapeutics during the fourth quarter worth $8,359,000. Samsara BioCapital LLC acquired a new stake in shares of Palvella Therapeutics in the fourth quarter valued at $8,154,000. Frazier Life Sciences Management L.P. purchased a new position in Palvella Therapeutics in the fourth quarter valued at $7,847,000. Finally, Adams Street Partners LLC acquired a new position in Palvella Therapeutics during the 4th quarter worth $4,916,000. Institutional investors and hedge funds 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.