In a report released today, Ritu Baral from TD Cowen maintained a Buy rating on Palvella Therapeutics (PVLA – Research Report), with a price target of $44.00.
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Ritu Baral has given her Buy rating due to a combination of factors that highlight Palvella Therapeutics’ promising financial and developmental outlook. The company has a substantial cash reserve of $75.6 million, which is projected to sustain operations through the second half of 2027. This financial stability is expected to support the completion of significant clinical trials, including the Phase 3 SELVA trial and the Phase 2 TOIVA trial, as well as the submission and pre-launch activities for their MLM NDA.
Palvella Therapeutics’ innovative QTORIN platform is another key factor in the Buy rating. The platform is designed to enhance the bioavailability of topical therapies, and the company’s main asset, QTORIN rapa, is undergoing advanced clinical trials for serious rare genetic skin diseases. The potential for new indications and product candidates within this platform further strengthens the company’s growth prospects. The management’s strategic focus on addressing unmet medical needs in dermatology positions Palvella Therapeutics as a promising investment opportunity.
In another report released on April 30, H.C. Wainwright also maintained a Buy rating on the stock with a $38.00 price target.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PVLA in relation to earlier this year.