Whitney Ijem, an analyst from Canaccord Genuity, maintained the Buy rating on Palvella Therapeutics (PVLA – Research Report). The associated price target remains the same with $39.00.
Whitney Ijem has given his Buy rating due to a combination of factors that highlight the potential of Palvella Therapeutics. The company is focused on addressing rare skin diseases, particularly through its QTORIN rapamycin product, which has shown promising results in Phase 2 trials for microcystic lymphatic malformations (mLM). This positions Palvella Therapeutics as a key player in a niche market with significant unmet medical needs.
Furthermore, the upcoming Phase 3 trials and the potential application of QTORIN rapamycin to other rare skin conditions add to the company’s growth prospects. The involvement of experts like Dr. Michael Kelly, who brings extensive experience in rare diseases, further strengthens the company’s research and development capabilities. These factors collectively contribute to the optimistic outlook and the Buy rating assigned by Whitney Ijem.
Ijem covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Arcturus Therapeutics, and Alnylam Pharma. According to TipRanks, Ijem has an average return of -1.2% and a 39.25% success rate on recommended stocks.
In another report released on February 10, H.C. Wainwright also reiterated a Buy rating on the stock with a $38.00 price target.