In a report released today, 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 related to Palvella Therapeutics’ promising developments in treating Disseminated Superficial Actinic Porokeratosis (DSAP). The company has introduced QTORIN-pitavastatin as a new product candidate, which has shown potential in effectively clearing lesions associated with various forms of porokeratosis, including DSAP.
The insights from key opinion leaders, such as Dr. Dirk Elston and Dr. Amy Paller, underscore the efficacy and safety of the topical application of lovastatin combined with cholesterol. These expert endorsements, coupled with the innovative approach of addressing genetic skin diseases through pathogenesis-based therapy, contribute to the positive outlook for Palvella Therapeutics, justifying the Buy rating.
In another report released today, BTIG also initiated coverage with a Buy rating on the stock with a $167.00 price target.