Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on KALV stock, giving a Buy rating on June 24.
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Joseph Schwartz has given his Buy rating due to a combination of factors surrounding KalVista Pharmaceuticals’ ongoing interactions with the FDA regarding their New Drug Application (NDA) for sebetralstat. Despite a delay in the PDUFA goal date, the FDA has indicated that a decision is expected soon, and the review process is actively progressing. The management of KalVista has been in continuous dialogue with the FDA, focusing on labeling discussions, and there have been no indications from the agency that the data supporting the drug’s approval are insufficient.
Schwartz’s confidence in a positive outcome is bolstered by the fact that the FDA has not raised any concerns about the safety or efficacy of sebetralstat. The management’s proactive engagement with the FDA and the absence of any negative feedback from the agency further support the likelihood of approval. These factors contribute to Schwartz’s optimistic outlook and justify the Buy rating for KalVista Pharmaceuticals.
According to TipRanks, Schwartz is a 5-star analyst with an average return of 11.2% and a 41.37% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Travere Therapeutics, uniQure, and KalVista Pharmaceuticals.
In another report released on June 24, JonesTrading also maintained a Buy rating on the stock with a $30.00 price target.