Palvella Therapeutics (NASDAQ:PVLA) Coverage Initiated at Stifel Nicolaus

Analysts at Stifel Nicolaus started coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a report issued on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $45.00 price target on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 65.02% from the stock’s current price.

A number of other brokerages have also weighed in on PVLA. Canaccord Genuity Group reiterated a “buy” rating and issued a $39.00 price target on shares of Palvella Therapeutics in a report on Wednesday, February 26th. Jones Trading started coverage on Palvella Therapeutics in a report on Tuesday. They issued a “buy” rating and a $45.00 target price on the stock. Cantor Fitzgerald initiated coverage on Palvella Therapeutics in a research note on Wednesday, December 18th. They set an “overweight” rating for the company. HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of Palvella Therapeutics in a report on Tuesday, February 11th. Finally, Scotiabank assumed coverage on Palvella Therapeutics in a report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $43.50.

Palvella Therapeutics Stock Performance

NASDAQ PVLA opened at $27.27 on Wednesday. The company’s 50-day moving average is $19.36. Palvella Therapeutics has a 12 month low of $6.20 and a 12 month high of $29.27. The firm has a market cap of $306.00 million, a P/E ratio of -2.25 and a beta of 0.54.

Institutional Investors Weigh In On Palvella Therapeutics

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

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.