Kalaris Therapeutics (KLRS) has received a new Buy rating, initiated by Leerink Partners analyst, Marc Goodman.
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Marc Goodman has given his Buy rating due to a combination of factors that highlight the potential of Kalaris Therapeutics. Firstly, the market for treating age-related macular degeneration (AMD) is substantial and expanding, with a need for therapies that can extend treatment duration and lessen the frequency of administration. Secondly, Kalaris’s product, TH103, is an anti-VEGF therapy similar to Eylea but designed for prolonged ocular retention, potentially offering longer-lasting effects and improved visual outcomes.
Additionally, the market has room for a longer-acting anti-VEGF treatment, and even a modest market share could lead to commercial success for TH103. However, Goodman acknowledges the risks, such as the early stage of TH103’s clinical development and the competitive landscape with other companies striving to extend treatment intervals in wet AMD. Despite these challenges, the potential benefits and market opportunities underpin the Buy rating.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KLRS in relation to earlier this year.