Palvella Therapeutics price target raised to $70 from $30 at Cantor Fitzgerald

Cantor Fitzgerald analyst Josh Schimmer raised the firm’s price target on Palvella Therapeutics (PVLA) to $70 from $30 and keeps an Overweight rating on the shares after Palvella reported its first quarter as a public company following the company’s reverse merger with Pieris in December. The firm notes a “sharp uptick in investor interest” and adds that it thinks its more than doubled price target “might prove to be quite conservative.”