H.C. Wainwright raised the firm’s price target on Palvella Therapeutics (PVLA) to $95 from $75 and keeps a Buy rating on the shares. The company announced clinically significant angiokeratomas as the new indication for Qtorin rapamycin, the analyst tells investors in a research note. The firm’s survey data indicate 50,000 U.S. patients are diagnosed with clinically significant angiokeratoma, with no FDA-approved treatments available. The cites Qtorin’s addressable market increasing from about 100,000 patients to an estimated 150,000 patients for the target bump.
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