Cantor Fitzgerald Issues Positive Forecast for Palvella Therapeutics (NASDAQ:PVLA) Stock Price

Palvella Therapeutics (NASDAQ:PVLA) had its price objective hoisted by investment analysts at Cantor Fitzgerald from $120.00 to $200.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 149.81% from the company’s current price.

PVLA has been the subject of a number of other reports. Truist Financial boosted their target price on shares of Palvella Therapeutics from $56.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Raymond James Financial set a $54.00 target price on shares of Palvella Therapeutics and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Stifel Nicolaus boosted their target price on shares of Palvella Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Canaccord Genuity Group boosted their target price on shares of Palvella Therapeutics from $66.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Finally, Lifesci Capital began coverage on shares of Palvella Therapeutics in a research note on Monday, August 4th. They set an “outperform” rating and a $90.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.08.

Palvella Therapeutics Price Performance

NASDAQ PVLA traded up $4.31 during mid-day trading on Thursday, reaching $80.06. The stock had a trading volume of 47,919 shares, compared to its average volume of 115,448. 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 $885.46 million, a PE ratio of -21.12 and a beta of -0.05. The company has a fifty day moving average price of $65.11 and a 200 day moving average price of $42.13.

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

Institutional Investors Weigh In On Palvella Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new position in Palvella Therapeutics in the 3rd quarter worth $21,255,000. Millennium Management LLC purchased a new stake in shares of Palvella Therapeutics during the 1st quarter valued at about $7,553,000. Woodline Partners LP purchased a new stake in Palvella Therapeutics in the 1st quarter worth about $5,435,000. Clio Asset Management LLC purchased a new position in shares of Palvella Therapeutics during the second quarter worth approximately $2,063,000. Finally, Geode Capital Management LLC increased its position in shares of Palvella Therapeutics by 84.7% during the second quarter. Geode Capital Management LLC now owns 173,986 shares of the company’s stock worth $3,923,000 after acquiring an additional 79,787 shares during the period. 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.