Pelthos Therapeutics (NYSEAMERICAN:PTHS) Given New $62.00 Price Target at Oppenheimer

Pelthos Therapeutics (NYSEAMERICAN:PTHS) had its target price increased by investment analysts at Oppenheimer from $60.00 to $62.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 175.19% from the stock’s current price.

A number of other research analysts have also issued reports on PTHS. Zacks Research lowered Pelthos Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Roth Mkm dropped their target price on shares of Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Piper Sandler started coverage on Pelthos Therapeutics in a report on Friday, February 27th. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Pelthos Therapeutics in a research note on Thursday. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.25.

Pelthos Therapeutics Trading Down 6.4%

NYSEAMERICAN PTHS traded down $1.55 during midday trading on Friday, hitting $22.53. 1,210 shares of the company traded hands, compared to its average volume of 9,157. Pelthos Therapeutics has a 52 week low of $9.00 and a 52 week high of $54.29. The firm has a 50-day simple moving average of $23.34. The stock has a market capitalization of $73.00 million, a P/E ratio of -1.32 and a beta of 3.87.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PTHS. Ikarian Capital LLC lifted its position in shares of Pelthos Therapeutics by 309.5% during the fourth quarter. Ikarian Capital LLC now owns 255,758 shares of the company’s stock worth $7,928,000 after purchasing an additional 193,307 shares during the last quarter. J. Goldman & Co LP acquired a new position in Pelthos Therapeutics during the 4th quarter valued at approximately $2,418,000. Boothbay Fund Management LLC increased its position in Pelthos Therapeutics by 279.8% in the fourth quarter. Boothbay Fund Management LLC now owns 80,680 shares of the company’s stock worth $2,501,000 after buying an additional 59,435 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in Pelthos Therapeutics in the fourth quarter worth $1,085,000. Finally, Diadema Partners LP grew its position in shares of Pelthos Therapeutics by 138.1% during the fourth quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after acquiring an additional 14,502 shares during the last quarter. 77.96% of the stock is owned by hedge funds and other institutional investors.

Pelthos Therapeutics Company Profile

We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).