Pelthos Therapeutics (NYSEAMERICAN:PTHS) Shares Up 4.7% – Here’s What Happened

Pelthos Therapeutics Inc. (NYSEAMERICAN:PTHS) shot up 4.7% on Thursday . The company traded as high as $28.74 and last traded at $28.72. 41,818 shares changed hands during mid-day trading, an increase of 147% from the average session volume of 16,949 shares. The stock had previously closed at $27.42.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PTHS. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Pelthos Therapeutics in a research note on Thursday, March 19th. Zacks Research raised Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 24th. Roth Mkm dropped their price objective on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Oppenheimer boosted their target price on Pelthos Therapeutics from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Piper Sandler assumed coverage on Pelthos Therapeutics in a research note on Friday, February 27th. They set an “overweight” rating and a $48.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.80.

Pelthos Therapeutics Trading Down 4.2%

The company has a debt-to-equity ratio of 1.41, a current ratio of 2.79 and a quick ratio of 1.86. The stock has a market capitalization of $95.70 million, a price-to-earnings ratio of -1.33 and a beta of 3.16. The company’s fifty day moving average price is $25.10.

Pelthos Therapeutics (NYSEAMERICAN:PTHS) last posted its earnings results on Thursday, May 14th. The company reported ($3.09) earnings per share for the quarter. The firm had revenue of $10.91 million during the quarter. As a group, equities research analysts predict that Pelthos Therapeutics Inc. will post -11.7 earnings per share for the current year.

Institutional Trading of Pelthos Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Knott David M Jr raised its stake in Pelthos Therapeutics by 9.3% during the 1st quarter. Knott David M Jr now owns 21,073 shares of the company’s stock valued at $443,000 after acquiring an additional 1,792 shares during the last quarter. Geode Capital Management LLC raised its stake in Pelthos Therapeutics by 31.9% during the 4th quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock valued at $422,000 after acquiring an additional 3,295 shares during the last quarter. Persistent Asset Partners Ltd raised 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 acquiring an additional 3,604 shares during the last quarter. Pale Fire Capital SE raised its stake in Pelthos Therapeutics by 59.5% during the 1st quarter. Pale Fire Capital SE now owns 12,919 shares of the company’s stock valued at $271,000 after acquiring an additional 4,819 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Pelthos Therapeutics during the 4th quarter valued at approximately $343,000. 77.96% of the stock is owned by hedge funds and other institutional investors.

Pelthos Therapeutics Company Profile

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”).