Mitchell Kapoor, an analyst from H.C. Wainwright, maintained the Buy rating on Kyverna Therapeutics, Inc.. The associated price target was raised to $20.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors including the increasing confidence in the durability and efficacy of Kyverna Therapeutics’ KYV-101, particularly in treating myasthenia gravis (MG). The analyst has raised the probability of approval for KYV-101 in MG to 35% from 25%, which has led to an increase in the 12-month price target to $20 from $10. This optimism is based on the impressive results seen in compassionate-use patients, where KYV-101 demonstrated rapid and sustained responses across multiple immune and inflammatory indications.
Furthermore, the upcoming interim data from the KYSA-6 trial in the fourth quarter of 2025 is anticipated to be a significant catalyst, with expectations that the results will confirm the durability of KYV-101’s effects. The potential for KYV-101 to provide a long-term solution with a single infusion, as opposed to ongoing treatments, presents a compelling economic advantage. This potential for a durable, cost-effective treatment is expected to drive strong prescriber interest and payer support, reinforcing the Buy rating.