Palvella Therapeutics price target raised to $190 from $105 at Truist

Truist raised the firm’s price target on Palvella Therapeutics (PVLA) to $190 from $105 and keeps a Buy rating on the shares. The firm incorporated risk adjusted sales for cutaneous venous malformations into its Palvella model, which raises its price target The small proof-of-concept study provided sufficient de-risking for the CVM opportunity given the breadth and depth of efficacy observed, the analyst tells investors in a research note. The firm added that these results likely understate the max treatment effect, as responses appear to deepen over titme.