In a report released today, Tazeen Ahmad from Bank of America Securities maintained a Buy rating on KalVista Pharmaceuticals, with a price target of $30.00.
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Tazeen Ahmad’s rating is based on the promising early performance of KalVista Pharmaceuticals’ new oral on-demand HAE therapy, Ekterly. The launch has been well-received, with over 10% of the HAE population having received prescriptions in the first four months, and significant enthusiasm from key prescribers. The company anticipates that approximately 15% of HAE patients will have tried Ekterly by the end of the year, supported by positive real-world feedback regarding its ease of use.
Additionally, the conversion rate from the QuickStart program to paid prescriptions is progressing favorably, with coverage trends aligning with expectations. KalVista’s management is optimistic about the potential growth of the on-demand US market, which could expand by 20-30% over time due to Ekterly’s convenient dosing profile. These factors, combined with the current market dynamics and the company’s strategic positioning, underpin the Buy rating with a price objective of $30.
Ahmad covers the Healthcare sector, focusing on stocks such as Incyte, Ascendis Pharma, and BioNTech SE. According to TipRanks, Ahmad has an average return of 3.1% and a 54.92% success rate on recommended stocks.
In another report released on December 3, Stifel Nicolaus also assigned a Buy rating to the stock with a $39.00 price target.