Pelthos Therapeutics (NYSEAMERICAN:PTHS) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler started coverage on shares of Pelthos Therapeutics (NYSEAMERICAN:PTHS) in a research report report published on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $48.00 price target on the stock.

Several other brokerages have also recently weighed in on PTHS. Zacks Research cut Pelthos Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Roth Mkm dropped their price objective on shares of Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Oppenheimer boosted their target price on shares of Pelthos Therapeutics from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.33.

Pelthos Therapeutics Stock Performance

PTHS traded up $3.36 during midday trading on Friday, hitting $26.36. 19,333 shares of the company were exchanged, compared to its average volume of 6,008. The company has a market capitalization of $85.41 million, a P/E ratio of -1.54 and a beta of 4.00. Pelthos Therapeutics has a 1-year low of $9.00 and a 1-year high of $54.29.

Institutional Trading of Pelthos Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings 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 buying an additional 3,295 shares in the last quarter. Persistent Asset Partners Ltd grew its holdings in shares of Pelthos Therapeutics by 150.0% in the 4th quarter. Persistent Asset Partners Ltd now owns 6,007 shares of the company’s stock worth $186,000 after acquiring an additional 3,604 shares during the period. Millennium Management LLC purchased a new position in Pelthos Therapeutics in the 4th quarter valued at approximately $343,000. Knott David M Jr increased its stake in Pelthos Therapeutics by 215.5% in the 4th quarter. Knott David M Jr now owns 19,281 shares of the company’s stock valued at $598,000 after purchasing an additional 13,169 shares in the last quarter. Finally, Diadema Partners LP raised its holdings in 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 purchasing an additional 14,502 shares during the last quarter. Hedge funds and other institutional investors own 77.96% of the company’s stock.

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”).