Pelthos Therapeutics (NYSEAMERICAN:PTHS) Coverage Initiated at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald started coverage on shares of Pelthos Therapeutics (NYSEAMERICAN:PTHS) in a research note issued to investors on Wednesday. The brokerage set an “overweight” rating and a $50.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 137.98% from the company’s current price.

A number of other analysts also recently commented on the company. Zacks Research upgraded Pelthos Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 24th. Oppenheimer raised their price objective on Pelthos Therapeutics from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, March 20th. Roth Mkm decreased their target price on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Piper Sandler assumed coverage on shares of Pelthos Therapeutics in a report on Friday, February 27th. They issued an “overweight” rating and a $48.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $60.00 price objective on shares of Pelthos Therapeutics in a research note on Thursday, March 19th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Pelthos Therapeutics Stock Up 0.0%

NYSEAMERICAN:PTHS opened at $21.01 on Wednesday. The stock has a market capitalization of $70.59 million, a P/E ratio of -1.01 and a beta of 3.87. The stock’s 50 day moving average is $23.06. Pelthos Therapeutics has a fifty-two week low of $9.00 and a fifty-two week high of $54.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.15 and a current ratio of 2.05.

Hedge Funds Weigh In On Pelthos Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of PTHS. Geode Capital Management LLC grew its position in Pelthos Therapeutics by 31.9% in the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock valued at $422,000 after acquiring an additional 3,295 shares in the last quarter. Persistent Asset Partners Ltd boosted its stake in shares of Pelthos Therapeutics by 150.0% in the fourth quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock valued at $186,000 after purchasing an additional 3,604 shares during the period. Millennium Management LLC purchased a new stake in Pelthos Therapeutics during the 4th quarter worth $343,000. Knott David M Jr lifted its holdings in Pelthos Therapeutics by 215.5% in the 4th quarter. Knott David M Jr now owns 19,281 shares of the company’s stock worth $598,000 after buying an additional 13,169 shares in the last quarter. Finally, Diadema Partners LP boosted its position in Pelthos Therapeutics by 138.1% in the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock valued at $775,000 after buying an additional 14,502 shares during the last quarter. 77.96% of the stock is owned by institutional investors and hedge funds.

About Pelthos Therapeutics

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”).