Serge Belanger, an analyst from Needham, maintained the Buy rating on KalVista Pharmaceuticals. The associated price target remains the same with $28.00.
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Serge Belanger has given his Buy rating due to a combination of factors that highlight KalVista Pharmaceuticals’ strong market performance and potential for growth. The company reported impressive sales figures for Ekterly, its newly launched product, which significantly exceeded expectations in its first quarter post-FDA approval. This robust performance is further supported by the substantial number of patient start forms and the wide adoption among prescribers, indicating a strong market acceptance.
Additionally, KalVista’s financial position appears solid, with a substantial cash reserve expected to support operations until profitability is achieved. The recent launch of Ekterly in Germany and planned expansions into other European markets, such as the UK and Japan, further bolster the company’s growth prospects. While there may be some market caution due to upcoming clinical trial results from a competitor, the overall outlook for KalVista remains positive, justifying the Buy rating.
Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Viridian Therapeutics, and Liquidia Technologies. According to TipRanks, Belanger has an average return of 8.4% and a 47.60% success rate on recommended stocks.
In another report released on November 5, JonesTrading also maintained a Buy rating on the stock with a $37.00 price target.