Palvella Therapeutics (NASDAQ:PVLA) Coverage Initiated at Jones Trading

Stock analysts at Jones Trading began coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a research note issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Jones Trading’s target price would indicate a potential upside of 61.12% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Scotiabank initiated coverage on Palvella Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of Palvella Therapeutics in a report on Tuesday, February 11th. Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 target price on shares of Palvella Therapeutics in a report on Wednesday, February 26th. TD Cowen assumed coverage on shares of Palvella Therapeutics in a research report on Wednesday, February 5th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on shares of Palvella Therapeutics in a research report on Wednesday, December 18th. They issued an “overweight” rating for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $43.50.

Palvella Therapeutics Stock Up 2.4 %

Palvella Therapeutics stock opened at $27.93 on Tuesday. The company has a market capitalization of $313.40 million, a P/E ratio of -2.31 and a beta of 0.54. The company’s 50 day moving average is $19.66. Palvella Therapeutics has a fifty-two week low of $6.20 and a fifty-two week high of $29.27.

Hedge Funds Weigh In On Palvella Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new position in shares of Palvella Therapeutics in the 4th quarter worth approximately $125,000. Toronto Dominion Bank acquired a new stake in Palvella Therapeutics in the fourth quarter valued at approximately $159,000. Geode Capital Management LLC purchased a new position in Palvella Therapeutics in the fourth quarter worth $171,000. Cresset Asset Management LLC acquired a new stake in Palvella Therapeutics in the fourth quarter worth about $251,000. Finally, Renaissance Technologies LLC acquired a new stake in Palvella Therapeutics in the 4th quarter worth approximately $256,000. 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.