Serge Belanger, an analyst from Needham, maintained the Buy rating on KalVista Pharmaceuticals (KALV – Research Report). The associated price target is $28.00.
Serge Belanger has given his Buy rating due to a combination of factors that suggest a promising outlook for KalVista Pharmaceuticals. The company is strategically preparing for the potential FDA approval of its drug, sebetralstat, by mid-2025, which is a significant milestone. This preparation includes the onboarding of a field sales team and plans for a virtual investor day to discuss their commercial strategy and launch plans.
Moreover, KalVista has proactively submitted multiple marketing authorization applications for sebetralstat, aiming for additional approvals and launches through late 2025 and 2026. Financially, the company is in a strong position with approximately $253 million in cash, which is expected to support the initial launch of sebetralstat and sustain operations into the second half of 2027. These strategic and financial preparations underpin the Buy rating, with a price target of $28, as the anticipated approval and launch of sebetralstat are seen as pivotal for the company’s growth.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $19.00 price target.