Palvella Therapeutics price target raised to $120 from $70 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Palvella Therapeutics (PVLA) to $120 from $70 and keeps an Overweight rating on the shares. A recent webinar with Palvella and a dermatologist provided new insights into QTORIN Rapamycin and its potential in underappreciated indications such as vascular malformations and angiokeratomas, the analyst tells investors in a research note. Updated modeling now includes revenue from these indications, higher operating expenses, and less dilution from capital raises, and reinforces the view that QTORIN Rapamycin could exceed $1B in annual peak sales, leaving further upside potential.