In a report released yesterday, Whitney Ijem from Canaccord Genuity maintained a Buy rating on Palvella Therapeutics, with a price target of $148.00.
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Whitney Ijem has given his Buy rating due to a combination of factors, primarily focusing on Palvella Therapeutics’ strategic advancements and promising pipeline developments. The company’s recent announcement of a new product candidate, QTORIN pitavastatin, for the treatment of disseminated superficial actinic porokeratosis (DSAP), is a significant factor. This new program is backed by a strong mechanistic rationale, a history of off-label use, and addresses a large orphan patient population in the US, which positions it well in the market.
Moreover, Ijem is impressed by Palvella’s execution and disease selection strategy, which has led to increased confidence in the company’s research and development capabilities. The addition of DSAP to their model and the assignment of additional platform value credit highlight the potential for future indications. Palvella’s unique position with near-term catalysts, a de-risked platform, and a growing pipeline in rare disease areas with unmet needs further supports the Buy rating.
In another report released yesterday, Chardan Capital also maintained a Buy rating on the stock with a $110.00 price target.
PVLA’s price has also changed dramatically for the past six months – from $20.750 to $81.540, which is a 292.96% increase.