Palvella Therapeutics price target raised to $220 from $200 at Chardan

Chardan raised the firm’s price target on Palvella Therapeutics (PVLA) to $220 from $200 and keeps a Buy rating on the shares. The firm says the “impressive” Phase 3 SELVA data for Qtorin rapamycin in microcystic lymphatic malformations positions Palvella for a “highly compelling label.” Qtorin rapamycin is well positioned to become the first FDA-approved therapy for the 30,000-patient U.S. microcystic lymphatic malformations market, potentially capturing blockbuster status in a chronic-use population, the analyst tells investors in a research note.