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 strategic partnership between KalVista Pharmaceuticals and Kaken Pharmaceutical, which grants Kaken the rights to commercialize sebetralstat in Japan. This collaboration is expected to maximize the drug’s potential in the Japanese market, where it is anticipated to be the first oral on-demand treatment for hereditary angioedema (HAE) patients. The deal provides KalVista with non-dilutive funding to support its upcoming U.S. launch, enhancing the company’s financial positioning.
Furthermore, KalVista’s stock has shown strong performance with a 36% increase year-to-date, indicating positive market sentiment. The anticipated U.S. approval of sebetralstat by June 17, with a high probability of success, and the potential for premium pricing and rapid adoption, contribute to a favorable outlook. The company’s revenue projections for the coming years also suggest significant growth, reinforcing the Buy rating as KalVista is well-positioned to capitalize on these opportunities.
In another report released today, Needham also maintained a Buy rating on the stock with a $28.00 price target.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KALV in relation to earlier this year.