Palvella Therapeutics (NASDAQ:PVLA) Given New $243.00 Price Target at Canaccord Genuity Group

Palvella Therapeutics (NASDAQ:PVLA) had its price objective hoisted by Canaccord Genuity Group from $232.00 to $243.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target suggests a potential upside of 39.36% from the company’s current price.

A number of other brokerages have also issued reports on PVLA. Chardan Capital reiterated a “buy” rating and issued a $240.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a report on Friday, September 25th. Truist Financial set a $207.00 price target on shares of Palvella Therapeutics in a report on Wednesday, August 5th. HC Wainwright began coverage on shares of Palvella Therapeutics in a research note on Friday. They issued a “strong-buy” rating on the stock. Finally, Raymond James Financial set a $226.00 price objective on Palvella Therapeutics in a report on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $213.85.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA traded down $1.55 during mid-day trading on Monday, hitting $174.37. 155,870 shares of the stock traded hands, compared to its average volume of 261,544. Palvella Therapeutics has a twelve month low of $72.22 and a twelve month high of $179.95. The company has a market cap of $2.51 billion, a PE ratio of -31.66 and a beta of -0.21. The firm has a 50 day simple moving average of $142.54 and a two-hundred day simple moving average of $128.12.

Palvella Therapeutics (NASDAQ:PVLA) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($1.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.78) by $0.08. On average, equities research analysts anticipate that Palvella Therapeutics will post -6.36 earnings per share for the current fiscal year.

Insider Activity at Palvella Therapeutics

In related news, Director Christopher Kiritsy sold 313 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $157.00, for a total value of $49,141.00. Following the sale, the director directly owned 250 shares in the company, valued at $39,250. This represents a 55.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Kathleen Goin sold 4,313 shares of the stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total transaction of $537,313.54. Following the sale, the chief operating officer directly owned 2,165 shares of the company’s stock, valued at $269,715.70. This represents a 66.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 61,056 shares of company stock worth $8,756,946 over the last ninety days. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Palvella Therapeutics

A number of institutional investors have recently modified their holdings of PVLA. First Light Asset Management LLC grew its stake in Palvella Therapeutics by 38.3% during the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after purchasing an additional 271,617 shares during the period. BlackRock Inc. bought a new stake in Palvella Therapeutics in the second quarter worth approximately $140,343,000. Jennison Associates LLC increased its holdings in Palvella Therapeutics by 65.3% in the first quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock worth $79,852,000 after purchasing an additional 253,128 shares in the last quarter. Siren L.L.C. boosted its holdings in shares of Palvella Therapeutics by 243.3% during the 1st quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock worth $32,096,000 after buying an additional 182,485 shares in the last quarter. Finally, Primecap Management Co. CA bought a new position in shares of Palvella Therapeutics during the 2nd quarter worth approximately $39,150,000. 40.11% of the stock is owned by institutional investors.

Palvella Therapeutics Company Profile

Palvella Therapeutics is a clinical-stage biopharmaceutical company developing treatments for patients with rare and serious diseases, with a focus on conditions affecting the skin and related tissues. The company is based in Wayne, Pennsylvania.

Its pipeline includes QTORIN-based topical drug candidates, which use the company’s platform to deliver medicines locally to affected tissue. Programs are being developed for conditions including microcystic lymphatic malformations and cutaneous venous malformations; these candidates are investigational and have not been established as approved treatments.

Palvella is led by founder and Chief Executive Officer Wes Kaupinen.