Pelthos Therapeutics (NYSEAMERICAN:PTHS) Research Coverage Started at Piper Sandler

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

PTHS has been the topic of several other reports. Roth Mkm dropped their price target on Pelthos Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer boosted their target price on shares of Pelthos Therapeutics from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Zacks Research downgraded shares of Pelthos Therapeutics from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

Pelthos Therapeutics Stock Performance

Pelthos Therapeutics stock opened at $26.36 on Friday. Pelthos Therapeutics has a 52 week low of $9.00 and a 52 week high of $54.29. The stock has a market capitalization of $85.41 million, a PE ratio of -1.54 and a beta of 3.86.

Institutional Investors Weigh In On Pelthos Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PTHS. Persistent Asset Partners Ltd lifted its stake in Pelthos Therapeutics by 150.0% in 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 acquired a new position in shares of Pelthos Therapeutics during the fourth quarter worth $343,000. Geode Capital Management LLC lifted its stake in shares of Pelthos Therapeutics by 31.9% in the 4th quarter. Geode Capital Management LLC now owns 13,625 shares of the company’s stock valued at $422,000 after acquiring an additional 3,295 shares during the last quarter. Knott David M Jr boosted its holdings in shares of Pelthos Therapeutics by 215.5% during the 4th quarter. Knott David M Jr now owns 19,281 shares of the company’s stock valued at $598,000 after acquiring an additional 13,169 shares in the last quarter. Finally, Diadema Partners LP grew its position in Pelthos Therapeutics by 138.1% during the 4th quarter. Diadema Partners LP now owns 25,000 shares of the company’s stock worth $775,000 after acquiring an additional 14,502 shares during the last quarter. 77.96% of the stock is owned by 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”).