Pelthos Therapeutics (NYSEAMERICAN:PTHS) Upgraded at Zacks Research

Pelthos Therapeutics (NYSEAMERICAN:PTHS) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

PTHS has been the topic of several other research reports. Roth Mkm dropped their price target 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, February 26th. Piper Sandler assumed coverage on Pelthos Therapeutics in a research note on Friday, February 27th. They issued an “overweight” rating and a $48.00 price objective for the company. Oppenheimer lifted their target price on Pelthos Therapeutics from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Finally, HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Pelthos Therapeutics in a report on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.25.

Pelthos Therapeutics Price Performance

Shares of PTHS opened at $22.09 on Tuesday. The company has a market capitalization of $74.22 million, a price-to-earnings ratio of -1.06 and a beta of 3.87. The company has a quick ratio of 1.15, a current ratio of 2.05 and a debt-to-equity ratio of 0.81. Pelthos Therapeutics has a one year low of $9.00 and a one year high of $54.29. The business has a fifty day moving average price of $23.21.

Institutional Trading of Pelthos Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Persistent Asset Partners Ltd raised 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 period. Millennium Management LLC bought a new position in Pelthos Therapeutics in the 4th quarter worth $343,000. Geode Capital Management LLC boosted its holdings in Pelthos Therapeutics by 31.9% in the 4th quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock worth $422,000 after buying an additional 3,295 shares during the period. 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 worth $598,000 after buying an additional 13,169 shares in the last quarter. Finally, Diadema Partners LP increased its stake in Pelthos Therapeutics by 138.1% in the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after buying an additional 14,502 shares in the last quarter. 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”).