** Brokerage Stifel starts coverage on drug developer Palvella Therapeutics PVLA.O with "buy" rating and $45 PT
** New PT represents a 65% upside to the stock's last close
** Stifel thinks PVLA has the potential to build a portfolio of rare skin disease treatments, "which collectively could have multi-billion-dollar potential"
** Stifel notes co's gel QTORIN optimizes for delivery of the treatment into the deepest regions of the skin with potency and high patient tolerability
** Including session's moves, PVLA stock more than doubled YTD
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com;))
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