JonesTrading analyst Debanjana Chatterjee maintained a Buy rating on KalVista Pharmaceuticals today and set a price target of $37.00.
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Debanjana Chatterjee’s rating is based on several promising developments for KalVista Pharmaceuticals. The company is transitioning to a calendar year reporting system, which aligns with traditional quarterly updates, allowing for more streamlined financial assessments. Chatterjee notes the significant uptake of Ekterly, KalVista’s newly approved treatment, with over 460 start forms reported, indicating strong initial interest from the healthcare community.
Furthermore, Ekterly’s revenue projections are optimistic, with a substantial increase in sales anticipated as the drug gains insurance formulary access. The survey of key opinion leaders (KOLs) in the healthcare sector suggests that Ekterly could achieve a 30% market penetration by 2030, surpassing current estimates. Additionally, there is high enthusiasm among providers for this first-ever oral, on-demand therapy, which could further bolster its market position despite potential generic competition. These factors collectively support the Buy rating for KalVista Pharmaceuticals.
In another report released on October 22, Bank of America Securities also reiterated a Buy rating on the stock with a $29.00 price target.