JonesTrading analyst Debanjana Chatterjee maintained a Buy rating on KalVista Pharmaceuticals yesterday and set a price target of $37.00.
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Debanjana Chatterjee’s rating is based on several positive indicators for KalVista Pharmaceuticals. The company reported a significant revenue beat for its third quarter, with Ekterly generating $13.7 million compared to the consensus estimate of $5.4 million. This strong performance was supported by a higher-than-expected number of start forms, indicating robust demand for Ekterly among the US HAE population.
Despite a muted stock reaction, Chatterjee remains optimistic about Ekterly’s long-term potential. The analyst highlights the likelihood of continued growth in start forms, supported by a survey of key opinion leaders. Additionally, the current refill rates for Ekterly suggest a strong market presence, with expectations for further expansion in specialty pharmacies. These factors contribute to the Buy rating, reflecting confidence in the company’s future performance.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $39.00 price target.