BUZZ-Palvella Therapeutics climbs after Truist raises PT

Reuters12-17 02:38

BUZZ-<a href="https://laohu8.com/S/PVLA">Palvella Therapeutics</a> climbs after Truist raises PT

** 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

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))

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