DBV Technologies price target raised to $45 from $21 at Citizens

Citizens raised the firm’s price target on DBV Technologies (DBVT) to $45 from $21 and keeps an Outperform rating on the shares. The firm was “optimistic” going into the Phase 3 VITESSE trial and was “pleased” to see a 46.6% treatment effect vs. 14.8% for placebo, the analyst tells investors in a research note. VITESSE supports a BLA submission in the first half of 2026, which may be eligible for Priority Review, and the success in VITESSE triggers an acceleration of the exercise price of $181M in outstanding warrants, bringing in a cash infusion, which management estimates is sufficient to fund the potential launch in 4-7 year olds, the firm says.