Palvella Therapeutics (NASDAQ:PVLA) Receives “Buy” Rating from Chardan Capital

Palvella Therapeutics (NASDAQ:PVLA)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research note issued on Thursday,Benzinga reports. They presently have a $240.00 price objective on the stock. Chardan Capital’s price objective points to a potential upside of 110.33% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus set a $250.00 price objective on shares of Palvella Therapeutics in a research note on Tuesday, February 24th. Truist Financial set a $210.00 price target on shares of Palvella Therapeutics in a report on Tuesday, February 24th. HC Wainwright lifted their price target on Palvella Therapeutics from $255.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. BTIG Research upped their price objective on Palvella Therapeutics from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen lowered Palvella Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.53.

Palvella Therapeutics Price Performance

Shares of PVLA opened at $114.11 on Thursday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -27.36 and a beta of -0.13. Palvella Therapeutics has a 1 year low of $20.20 and a 1 year high of $151.18. The business’s 50 day simple moving average is $122.96 and its 200-day simple moving average is $105.14.

Palvella Therapeutics (NASDAQ:PVLA) last posted its earnings results on Thursday, May 7th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). On average, sell-side analysts expect that Palvella Therapeutics will post -5.43 earnings per share for the current year.

Insider Activity at Palvella Therapeutics

In other Palvella Therapeutics news, Director Elaine J. Heron bought 2,400 shares of the company’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $125.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director directly owned 47,812 shares of the company’s stock, valued at approximately $5,976,500. This represents a 5.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kathleen Goin sold 4,302 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $117.99, for a total value of $507,592.98. The disclosure for this sale is available in the SEC filing. 20.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palvella Therapeutics

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in shares of Palvella Therapeutics during the third quarter valued at $21,255,000. Aberdeen Group plc purchased a new stake in Palvella Therapeutics in the third quarter worth about $3,212,000. First Light Asset Management LLC bought a new position in Palvella Therapeutics during the 3rd quarter worth about $33,949,000. Apis Capital Advisors LLC bought a new position in Palvella Therapeutics during the 3rd quarter worth about $627,000. Finally, Suvretta Capital Management LLC increased its position in Palvella Therapeutics by 15.1% during the 3rd quarter. Suvretta Capital Management LLC now owns 822,400 shares of the company’s stock valued at $51,556,000 after purchasing an additional 107,937 shares during the period. Hedge funds and other institutional investors own 40.11% of the company’s stock.

About Palvella Therapeutics

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical?stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small?molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil? and complement?mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella’s pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.