Palvella Therapeutics price target raised to $80 from $60 at Stifel

Stifel analyst Annabel Samimy raised the firm’s price target on Palvella Therapeutics (PVLA) to $80 from $60 and keeps a Buy rating on the shares. The firm noted that Palvella has disclosed its third program for QTORIN rapamycin 3.9% for angiokeratomas, another rare and progressive skin condition. With this new indication, the company’s “pipeline-in-a-product” for rare skin diseases is materializing, expanding the collective target population to 150,000 with a second compound leveraging the QTORIN platform to be disclosed later this year, the analyst tells investors in a research note.