KalVista Pharmaceuticals (KALV – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Jonathan Wolleben from JMP Securities reiterated a Buy rating on the stock and has a $19.00 price target.
Jonathan Wolleben has given his Buy rating due to a combination of factors including the promising commercial prospects of sebetralstat, KalVista Pharmaceuticals’ oral on-demand therapy for hereditary angioedema (HAE). The drug is expected to receive approval by its June 17 PDUFA date, with a high probability of success based on robust Phase 3 data. The company has devised a strategic launch plan that aims to address existing treatment challenges, potentially leading to rapid market adoption and significant market share capture from current injectable therapies.
KalVista’s stock has already seen a substantial increase this year, and Wolleben anticipates further growth as the approval date approaches, driven by the drug’s potential to meet a high unmet need in the market. The expected pricing strategy aligns with existing injectable treatments, which could expand the U.S. on-demand market significantly. With projected peak sales of around $250 million in the U.S., the early launch could exceed expectations, mirroring successful launches of previous oral therapies in similar markets.
In another report released on March 17, Bank of America Securities also reiterated a Buy rating on the stock with a $22.00 price target.