KalVista initiated with a Buy at TD Cowen

TD Cowen initiated coverage of KalVista (KALV) with a Buy rating and $30 price target The firm cites sebetralstat’s opportunity as the first oral acute therapy for hereditary angioedema attacks for the Buy rating. Consultants expect high patient demand, given strong preference for an oral agent with good efficacy, and believe sebetralstat has first-mover advantage to grow acute usage, the analyst tells investors in a research note. TD has high conviction in the launch, which it says should achieve $750M in peak sales.