Lachlan Hanbury Brown, an analyst from William Blair, has initiated a new Buy rating on Kalaris Therapeutics (KLRS).
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors that highlight the potential of Kalaris Therapeutics. The company is developing TH103, an anti-VEGF fusion protein, which is designed to provide longer-lasting and more effective treatment for retinal vascular diseases compared to existing therapies. This innovative approach targets a significant market opportunity, estimated to be around $15 billion globally.
Furthermore, Kalaris has successfully completed a reverse merger with AlloVir, resulting in a strong financial position with $101 million in cash and equivalents. This financial stability is expected to support the company through the release of top-line data from the Phase I study of TH103 in the fourth quarter of 2025 and potentially into a Phase II study in 2026. The promising potential of TH103, combined with the company’s solid financial footing, underpins the Buy rating.
Hanbury Brown covers the Healthcare sector, focusing on stocks such as ARS Pharmaceuticals, Apellis Pharmaceuticals, and LENZ Therapeutics. According to TipRanks, Hanbury Brown has an average return of -3.7% and a 46.67% success rate on recommended stocks.
In another report released on May 7, Leerink Partners also initiated coverage with a Buy rating on the stock with a $20.00 price target.