Pelthos Therapeutics’ (PTHS) Buy Rating Reaffirmed at HC Wainwright

Pelthos Therapeutics (NYSEAMERICAN:PTHS)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $60.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 167.38% from the company’s previous close.

PTHS has been the subject of a number of other research reports. Roth Mkm reduced their target price on shares of Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Piper Sandler started coverage on Pelthos Therapeutics in a research report on Friday, February 27th. They set an “overweight” rating and a $48.00 target price for the company. Oppenheimer increased their price target on Pelthos Therapeutics from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Zacks Research cut Pelthos Therapeutics from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.75.

Pelthos Therapeutics Price Performance

Shares of PTHS traded down $1.64 during mid-day trading on Thursday, hitting $22.44. The company’s stock had a trading volume of 3,792 shares, compared to its average volume of 9,057. Pelthos Therapeutics has a one year low of $9.00 and a one year high of $54.29. The business has a 50-day moving average of $23.34. The firm has a market capitalization of $72.71 million, a price-to-earnings ratio of -1.31 and a beta of 3.87.

Hedge Funds Weigh In On Pelthos Therapeutics

Hedge funds have recently made changes to their positions in the business. Persistent Asset Partners Ltd increased its position in shares of Pelthos Therapeutics by 150.0% during the 4th 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 last quarter. Millennium Management LLC bought a new position in Pelthos Therapeutics in the 4th quarter worth $343,000. Geode Capital Management LLC lifted its position in Pelthos Therapeutics by 31.9% during the fourth quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock valued at $422,000 after purchasing an additional 3,295 shares in the last quarter. Knott David M Jr increased its position in Pelthos Therapeutics by 215.5% in the fourth 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 raised its stake in shares of Pelthos Therapeutics by 138.1% in the fourth quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after buying an additional 14,502 shares during the period. 77.96% of the stock is owned by hedge funds and other institutional investors.

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”).