Shares of drug developer Palvella Therapeutics (PVLA.O) rise 6.14% to $94.45
Truist raises price target to $190 from $105, a 113.5% upside to the stock’s last close
Truist says a small proof of concept study with co’s Qtorin gel delivered sufficient “de-risking” of opportunity in patients with cutaneous Venous Malformations, a rare genetic skin condition causing dysfunctional veins
Brokerage says results likely understate peak treatment effect, as improvements were still deepening at 12 weeks
15 of 15 brokerages rate the stock “buy” or “strong buy”; median PT is $190 — data compiled by LSEG
As of last close, PVLA up 641.5% YTD

PVLA

Shares of Palvella Therapeuticsrose 6.14% to $94.45 after Truist raised its price target to $190 from $105, citing positive results from a proof of concept study for Qtorin gel. All 15 brokerages rate the stock as a 'buy' or 'strong buy,' with a median price target of $190. PVLA has increased 641.5% year-to-date.

BUZZ-Palvella Therapeutics climbs after Truist raises PT