H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on KalVista Pharmaceuticals today and set a price target of $27.00.
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Andrew Fein’s rating is based on the recent approval and launch of Ekterly, KalVista Pharmaceuticals’ new oral on-demand therapy for hereditary angioedema (HAE). Despite the enthusiasm surrounding its unique position in the market, there are concerns about insurance coverage which could pose challenges for its adoption. Fein acknowledges that while insurers may initially hesitate to include Ekterly on their formularies, the company anticipates that medical exceptions will facilitate access in the early months.
Furthermore, Fein notes that the long-term success of Ekterly will depend on its ability to secure broader reimbursement and demonstrate real-world efficacy. The need for a convenient on-demand therapy remains significant, and if insurance barriers are overcome, Ekterly could achieve substantial market penetration. The positive sentiment from both physicians and patients suggests a promising outlook, supporting Fein’s Buy rating for KalVista Pharmaceuticals.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $27.00 price target.