Stifel Nicolaus Initiates Coverage on Palvella Therapeutics (NASDAQ:PVLA)

Stifel Nicolaus started coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a research note issued on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $45.00 price target on the stock. Stifel Nicolaus’ target price indicates a potential upside of 62.10% from the stock’s current price.

A number of other equities research analysts have also recently commented on PVLA. Canaccord Genuity Group reissued a “buy” rating and set a $39.00 price target on shares of Palvella Therapeutics in a report on Wednesday, February 26th. TD Cowen initiated coverage on shares of Palvella Therapeutics in a research report on Wednesday, February 5th. They set a “buy” rating and a $44.00 price objective on the stock. Jones Trading started coverage on Palvella Therapeutics in a research note on Tuesday. They set a “buy” rating and a $45.00 price target for the company. 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. Finally, HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of Palvella Therapeutics in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Palvella Therapeutics presently has an average rating of “Buy” and a consensus price target of $43.50.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA opened at $27.76 on Wednesday. The company has a market capitalization of $311.49 million, a price-to-earnings ratio of -2.29 and a beta of 0.54. The firm’s 50 day simple moving average is $19.95. Palvella Therapeutics has a 12-month low of $6.20 and a 12-month high of $29.27.

Hedge Funds Weigh In On Palvella Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC purchased a new stake in shares of Palvella Therapeutics during the fourth quarter valued at $125,000. Toronto Dominion Bank purchased a new position in shares of Palvella Therapeutics in the 4th quarter valued at about $159,000. Geode Capital Management LLC acquired a new position in shares of Palvella Therapeutics during the 4th quarter worth approximately $171,000. Cresset Asset Management LLC acquired a new position in Palvella Therapeutics during the fourth quarter worth $251,000. Finally, Renaissance Technologies LLC purchased a new position in Palvella Therapeutics in the 4th quarter valued at about $256,000. 40.11% of the stock is owned by hedge funds and other 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.