Analyst Joseph Schwartz of Leerink Partners reiterated a Buy rating on KalVista Pharmaceuticals (KALV – Research Report), with a price target of $18.00.
Joseph Schwartz has given his Buy rating due to a combination of factors, including KalVista Pharmaceuticals’ progress in regulatory and commercial developments. The company’s lead asset, sebetralstat, is advancing towards a potential commercial launch for treating hereditary angioedema, with the New Drug Application accepted and a PDUFA action date set for June 2025. The regulatory review is proceeding as expected, and the company is preparing for the US launch by assembling its sales team and planning a virtual event to discuss commercialization strategies.
Furthermore, Schwartz highlights the significant market opportunity for sebetralstat, given the current limitations in on-demand therapy for hereditary angioedema. The company’s financial position is also strong, with substantial cash reserves, and they have made multiple regulatory submissions globally. These factors, combined with positive new data presented at a recent medical meeting, support the Buy rating, with an estimated gross peak sales potential of $470 million by 2036.
Schwartz covers the Healthcare sector, focusing on stocks such as Insmed, Ultragenyx Pharmaceutical, and Ascendis Pharma. According to TipRanks, Schwartz has an average return of 12.0% and a 42.74% success rate on recommended stocks.
In another report released on March 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $20.00 price target.