Palvella Therapeutics (NASDAQ:PVLA) Earns “Buy” Rating from Chardan Capital

Palvella Therapeutics (NASDAQ:PVLA)‘s stock had its “buy” rating reiterated by Chardan Capital in a report issued on Wednesday, Benzinga reports. They currently have a $240.00 price objective on the stock. Chardan Capital‘s price target would suggest a potential upside of 80.57% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Raymond James Financial set a $226.00 price objective on Palvella Therapeutics in a research note on Friday, October 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Friday, September 25th. Canaccord Genuity Group set a $232.00 price target on Palvella Therapeutics in a research note on Wednesday, August 5th. Truist Financial set a $207.00 price target on Palvella Therapeutics in a research report on Wednesday, August 5th. Finally, William Blair assumed coverage on Palvella Therapeutics in a research note on Friday, October 16th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.79.

Palvella Therapeutics Price Performance

PVLA stock opened at $132.91 on Wednesday. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -27.52 and a beta of -0.27. The company has a 50-day moving average of $141.42 and a two-hundred day moving average of $125.93. Palvella Therapeutics has a 52-week low of $68.96 and a 52-week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.35). Equities analysts expect that Palvella Therapeutics will post -6.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,313 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total value of $537,313.54. Following the transaction, the chief operating officer directly owned 2,165 shares of the company’s stock, valued at approximately $269,715.70. This trade represents a 66.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Jenkins sold 7,174 shares of the firm’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $130.36, for a total value of $935,202.64. Following the completion of the transaction, the director owned 139,790 shares in the company, valued at $18,223,024.40. This represents a 4.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 61,056 shares of company stock valued at $8,756,946. 17.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palvella Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVLA. China Universal Asset Management Co. Ltd. increased its stake in shares of Palvella Therapeutics by 31.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,783 shares of the company’s stock valued at $248,000 after acquiring an additional 426 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Palvella Therapeutics by 907.7% in the 3rd quarter. Sterling Capital Management LLC now owns 393 shares of the company’s stock valued at $54,000 after acquiring an additional 354 shares during the period. Avior Wealth Management LLC bought a new position in Palvella Therapeutics during the 3rd quarter worth approximately $212,000. Arizona State Retirement System boosted its stake in Palvella Therapeutics by 30.9% during the 2nd quarter. Arizona State Retirement System now owns 2,765 shares of the company’s stock worth $423,000 after acquiring an additional 652 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Palvella Therapeutics during the second quarter valued at approximately $35,000. Institutional investors own 40.11% of the company’s stock.

About Palvella Therapeutics

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical-stage biopharmaceutical company focused on developing treatments for patients with serious rare diseases, including conditions that may have limited or no approved therapeutic options.

The company’s development programs are based on its QTORIN 3.0 technology platform, which is designed to deliver medicines locally through topical formulations. Palvella has applied the platform to investigational therapies for rare genetic skin disorders and other localized diseases, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella is headquartered in Wayne, Pennsylvania, and conducts research and development activities aimed at serving rare-disease patients in the United States and other potential international markets.