In a report released yesterday, Ritu Baral from TD Cowen maintained a Buy rating on Palvella Therapeutics (PVLA – Research Report), with a price target of $44.00.
Ritu Baral has given her Buy rating due to a combination of factors including Palvella Therapeutics’ strong financial position and promising clinical pipeline. The company has a cash reserve of $83.6 million, which is expected to support its operations through the second half of 2027. This financial stability allows Palvella to fund its ongoing and upcoming clinical trials, including the Phase 3 SELVA trial and Phase 2 TOIVA trial, as well as new initiatives for its QTORIN platform.
Palvella’s QTORIN platform is a significant asset, offering high potency and bioavailability for topical treatments, particularly for drugs with low bioavailability. The company’s focus on rare genetic skin diseases with no approved treatments presents a substantial market opportunity. The anticipated announcements of a new clinical indication for QTORIN rapa and a second QTORIN product candidate in the second half of 2025 further enhance the potential for future growth and innovation, supporting the Buy rating.
In another report released yesterday, Scotiabank also maintained a Buy rating on the stock with a $50.00 price target.