Analyst Thomas Smith of Leerink Partners maintained a Buy rating on Kyverna Therapeutics, Inc., with a price target of $32.00.
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Thomas Smith’s rating is based on the promising results from Kyverna Therapeutics’ pivotal KYSA-8 study of mivocabtagene-autoleucel (miv-cel) in patients with stiff person syndrome (SPS). The study demonstrated transformative outcomes, addressing a significant unmet medical need for SPS patients who currently have no FDA-approved therapies. The data revealed a compelling risk/benefit profile, with low-grade adverse events and no high-grade incidents reported, which is a notable advantage in the competitive CAR T therapy landscape.
Furthermore, the company’s strategic plans to target a substantial patient population receiving off-label immunotherapy and their intention to submit a Biologics License Application (BLA) for miv-cel in the first half of 2026, with potential approval by late 2026 or early 2027, strengthen the investment case. Additionally, Kyverna’s progress in other therapeutic areas, such as the planned Phase 3 study in myasthenia gravis and the recent IND filing for KYV-102, supports the company’s growth trajectory and underpins the Buy rating.
According to TipRanks, Smith is a top 25 analyst with an average return of 47.0% and a 57.23% success rate. Smith covers the Healthcare sector, focusing on stocks such as SAB Biotherapeutics, Viridian Therapeutics, and RAPT Therapeutics.