Raymond James Financial Upgrades Palvella Therapeutics (NASDAQ:PVLA) to Strong-Buy

Palvella Therapeutics (NASDAQ:PVLA) was upgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a $143.00 price objective on the stock, up from their previous price objective of $92.00. Raymond James Financial’s price target suggests a potential upside of 72.41% from the stock’s previous close.

PVLA has been the subject of several other reports. Oppenheimer reiterated an “outperform” rating on shares of Palvella Therapeutics in a report on Tuesday, November 11th. Cantor Fitzgerald lifted their price target on shares of Palvella Therapeutics from $120.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. HC Wainwright boosted their price objective on shares of Palvella Therapeutics from $95.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 6th. TD Cowen raised their target price on shares of Palvella Therapeutics from $65.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $110.00 target price on shares of Palvella Therapeutics in a research report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Palvella Therapeutics currently has an average rating of “Buy” and a consensus price target of $111.92.

Palvella Therapeutics Stock Up 1.6%

NASDAQ:PVLA opened at $82.94 on Wednesday. Palvella Therapeutics has a 52 week low of $11.17 and a 52 week high of $87.01. The stock has a market cap of $981.68 million, a price-to-earnings ratio of -21.88 and a beta of -0.05. The company’s 50 day moving average price is $69.86 and its 200-day moving average price is $45.77.

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

Hedge Funds Weigh In On Palvella Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP purchased a new stake in Palvella Therapeutics in the first quarter worth about $2,002,000. Frazier Life Sciences Management L.P. grew its stake in shares of Palvella Therapeutics by 5.5% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 690,012 shares of the company’s stock valued at $19,313,000 after acquiring an additional 36,120 shares during the period. AWM Investment Company Inc. purchased a new stake in Palvella Therapeutics in the 1st quarter worth approximately $1,943,000. Millennium Management LLC bought a new stake in Palvella Therapeutics during the 1st quarter worth approximately $7,553,000. Finally, Goldman Sachs Group Inc. purchased a new position in Palvella Therapeutics during the first quarter valued at approximately $533,000. 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.