Stifel raised the firm’s price target on Palvella Therapeutics (PVLA) to $87 from $80 and keeps a Buy rating on the shares. The firm notes the company disclosed its newest QTORIN-leveraged program – pitavastatin for disseminated superficial actinic prokeratosis/DSAP, a chronic and debilitating, precancerous rare genetic skin condition with the hallmarks of Palvella’s optimal disease targets. The condition has a clear pathogenesis, scientific validation, unmet need, and a defined population. Stifel is impressed with the speed at which Palvella is layering in value-enhancing programs to build the first dermatology-based orphan drug company.
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