Palvella Therapeutics (NASDAQ:PVLA) Receives Consensus Rating of "Buy" from Analysts

Shares of Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) have been assigned an average recommendation of "Buy" from the eight research firms that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $44.43.

PVLA has been the topic of several recent analyst reports. Jones Trading initiated coverage on Palvella Therapeutics in a research report on Tuesday, March 25th. They set a "buy" rating and a $45.00 target price on the stock. TD Cowen assumed coverage on Palvella Therapeutics in a research report on Wednesday, February 5th. They issued a "buy" rating and a $44.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Palvella Therapeutics in a research report on Wednesday, March 26th. They set a "buy" rating and a $45.00 target price on the stock. Chardan Capital began coverage on shares of Palvella Therapeutics in a research note on Wednesday, April 9th. They issued a "buy" rating and a $50.00 price objective for the company. Finally, Scotiabank assumed coverage on shares of Palvella Therapeutics in a report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 target price for the company.

Palvella Therapeutics Stock Down 0.7 %

Shares of Palvella Therapeutics stock traded down $0.19 during trading hours on Friday, hitting $26.37. 62,178 shares of the company were exchanged, compared to its average volume of 69,166. The firm has a 50-day simple moving average of $23.90. Palvella Therapeutics has a 1 year low of $6.20 and a 1 year high of $29.27. The firm has a market capitalization of $290.57 million, a PE ratio of -2.18 and a beta of 0.10.

Insider Buying and Selling

In other news, Director George M. Jenkins purchased 2,500 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was bought at an average cost of $20.13 per share, for a total transaction of $50,325.00. Following the completion of the purchase, the director now directly owns 183,171 shares of the company's stock, valued at $3,687,232.23. The trade was a 1.38 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PVLA. Suvretta Capital Management LLC purchased a new stake in Palvella Therapeutics during the 4th quarter worth $8,574,000. BVF Inc. IL acquired a new stake in Palvella Therapeutics during the 4th quarter valued at $8,359,000. Samsara BioCapital LLC purchased a new stake in Palvella Therapeutics during the 4th quarter worth $8,154,000. Frazier Life Sciences Management L.P. acquired a new position in Palvella Therapeutics in the 4th quarter worth $7,847,000. Finally, Adams Street Partners LLC purchased a new position in Palvella Therapeutics in the 4th quarter valued at about $4,916,000. 40.11% of the stock is owned by institutional investors and hedge funds.

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.