Stifel raised the firm’s price target on Palvella Therapeutics (PVLA) to $250 from $180 and keeps a Buy rating on the shares following “impressive” phase 3 SELVA results of rapamycin. SELVA surpassed all upside expectations with high statistical significance on all primary and secondary endpoints, the analyst tells investors in a research note. The firm added that SELVA results reached well beyond the level deemed clinically meaningful by the firm’s recently-surveyed physicians, positioning it for first-line treatment and rapid adoption.
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