Chardan analyst Geulah Livshits raised the firm’s price target on Palvella Therapeutics (PVLA) to $110 from $73 and keeps a Buy rating on the shares after the company announced Qtorin pitavastatin for disseminated superficial actinic porokeratosis as its second product candidate. With a 50K U.S. cases, no FDA approved therapies, and mechanistic validation from academic studies using other topical statins, the program has a strong chance of technical success and a presents a “robust” commercial opportunity, the analyst tells investors in a research note.
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