Jones Trading Initiates Coverage on Palvella Therapeutics (NASDAQ:PVLA)

Stock analysts at Jones Trading started coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a report released on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Jones Trading’s price target indicates a potential upside of 61.12% from the company’s previous close.

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

Palvella Therapeutics Price Performance

Palvella Therapeutics stock opened at $27.93 on Tuesday. Palvella Therapeutics has a 52 week low of $6.20 and a 52 week high of $29.27. The business’s 50-day moving average price is $19.66. The firm has a market capitalization of $313.40 million, a P/E ratio of -2.31 and a beta of 0.54.

Institutional Investors Weigh In On Palvella Therapeutics

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

About Palvella Therapeutics

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.