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Investing.com - Truist Securities raised its price target on Palvella Therapeutics (NASDAQ:PVLA) to $105.00 from $80.00 on Monday, while maintaining a Buy rating on the stock. PVLA is currently trading at $77.83, near its 52-week high of $83, with an impressive year-to-date return of 548.58% according to InvestingPro data.
The price target increase follows Truist’s additional diligence with vascular anomaly key opinion leaders regarding QTORIN rapamycin’s potential in ongoing clinical trials.
Truist expressed increased confidence in a positive readout from the Phase 3 trial in microcystic lymphatic malformations (MLM), expected in the first quarter of 2026.
The firm raised its probability-of-success estimate for the MLM indication to 80% from the previous 65%.
Truist’s discounted cash flow analysis projects QTORIN sales reaching $675 million by 2035, suggesting further upside potential beyond Palvella’s current $860 million market capitalization.
In other recent news, Palvella Therapeutics has been the focus of multiple analyst upgrades following announcements of new treatment candidates. The company revealed QTORIN pitavastatin as a product candidate for disseminated superficial actinic porokeratosis (DSAP), a rare skin disease affecting approximately 50,000 diagnosed patients in the United States. This announcement prompted TD Cowen to raise its price target for Palvella Therapeutics to $97, maintaining a Buy rating. Additionally, Canaccord Genuity increased its price target to $90, citing the new indication for QTORIN rapamycin, aimed at treating angiokeratomas. H.C. Wainwright also raised its price target to $95, acknowledging the potential of the new QTORIN rapamycin indication. Truist Securities increased its price target to $80, following discussions with Palvella management about their confidence in ongoing trials and future data releases. These developments reflect a growing interest in Palvella’s expanding pipeline of treatments for rare skin conditions.
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