In a report released today, Annabel Samimy from Stifel Nicolaus maintained a Buy rating on Palvella Therapeutics, with a price target of $87.00.
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Annabel Samimy’s rating is based on Palvella Therapeutics’ strategic expansion of its QTORIN platform to include pitavastatin, targeting rare and debilitating skin conditions like disseminated superficial actinic porokeratosis (DSAP). The condition represents a significant unmet medical need with no FDA-approved therapies, and Palvella’s approach leverages a scientifically validated pathway, offering a promising treatment option.
Palvella’s focus on DSAP, a condition affecting over 50,000 patients in the U.S., aligns with its strategy to address serious rare diseases with high unmet needs. The company’s plan to pursue an expedited regulatory pathway and the potential for orphan drug pricing further enhance the commercial attractiveness of this initiative. This strategic move is expected to rapidly advance Palvella’s position in the dermatology-based orphan drug market, justifying the Buy rating and increased target price.
In another report released today, Cantor Fitzgerald also maintained a Buy rating on the stock with a $200.00 price target.