Palvella Therapeutics price target raised to $212 from $122 at Lucid Capital

Lucid Capital analyst Dev Prasad raised the firm’s price target on Palvella Therapeutics (PVLA) to $212 from $122 and keeps a Buy rating on the shares. The firm views the Phase 2 TOIVA readout for Qtorin rapamycin in cutaneous venous malformations as a “meaningful inflection point that substantially de-risks the program and strengthens Palvella’s long-term value proposition.” The consistency of efficacy across multiple clinician- and patient-reported endpoints, the “clear” time-dependent improvement through week 12, and the absence of placebo confound in a progressive genetic disease support a clinically meaningful treatment, the analyst tells investors in a research note.