Palvella Therapeutics (NASDAQ:PVLA) Coverage Initiated at Chardan Capital

Chardan Capital started coverage on shares of Palvella Therapeutics (NASDAQ:PVLA - Free Report) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $50.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the company. TD Cowen initiated coverage on Palvella Therapeutics in a research report on Wednesday, February 5th. They set a "buy" rating and a $44.00 price target on the stock. Jones Trading initiated coverage on Palvella Therapeutics in a report on Tuesday, March 25th. They set a "buy" rating and a $45.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 target price on shares of Palvella Therapeutics in a research note on Tuesday, April 1st. Canaccord Genuity Group reissued a "buy" rating and set a $39.00 price target on shares of Palvella Therapeutics in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus started coverage on shares of Palvella Therapeutics in a research note on Wednesday, March 26th. They issued a "buy" rating and a $45.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Palvella Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $44.43.

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Palvella Therapeutics Stock Up 18.2 %

Shares of NASDAQ:PVLA traded up $3.96 on Wednesday, hitting $25.72. The company's stock had a trading volume of 26,128 shares, compared to its average volume of 65,594. Palvella Therapeutics has a 1 year low of $6.20 and a 1 year high of $29.27. The stock has a market cap of $283.41 million, a P/E ratio of -2.13 and a beta of 0.10. The firm's 50-day moving average price is $22.57.

Insider Activity

In other Palvella Therapeutics news, Director George M. Jenkins purchased 2,500 shares of the stock in a transaction on Wednesday, April 9th. The stock was acquired at an average price of $20.13 per share, with a total value of $50,325.00. Following the transaction, the director now directly owns 183,171 shares of the company's stock, valued at approximately $3,687,232.23. This trade represents a 1.38 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.39% of the company's stock.

Institutional Investors Weigh In On Palvella Therapeutics

Large investors have recently made changes to their positions in the business. Suvretta Capital Management LLC purchased a new stake in Palvella Therapeutics in the fourth quarter worth $8,574,000. BVF Inc. IL purchased a new stake in shares of Palvella Therapeutics in the 4th quarter worth about $8,359,000. Samsara BioCapital LLC bought a new stake in shares of Palvella Therapeutics during the 4th quarter valued at about $8,154,000. Frazier Life Sciences Management L.P. purchased a new position in shares of Palvella Therapeutics during the fourth quarter valued at about $7,847,000. Finally, Adams Street Partners LLC bought a new position in Palvella Therapeutics in the fourth quarter worth about $4,916,000. 40.11% of the stock is currently owned by 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.